The 4H time frame for EURUSD might be suggesting an alternate count that is presented here. Please note that the pair has pushed higher from potential bottom at 1.1301 level as discussed last week. Looking at the wave structure, the rally looks to be in 3 waves A-B-C, until now. The pair is expected to be facing resistance around 1.1450/60 and also note that wave A would be equal to wave C at 1.1520 level. As an alternate count probability, the EURUSD pair could be into its wave 4 (of a lower degree), and if this scenario holds well, we could see one more low below 1.1301 as wave ((5)) of the larger degree, before the pair could prepare to rally. Until prices stay below 1.1530/40 levels, the alternate remains a possibility.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.