EURUSD prepares to push towards 1.0940/50 as wave d of triangle
EURUSD continues to drift within the triangle structure since 1.1150 highs. Structurally the currency pair has carved Wave 1 between 1.0630 and 1.1150 levels. Since then, a contracting triangle might be unfolding as potential Wave 2. Within the triangle, waves a, b, and c are in place as labelled on the hourly chart here. At the moment wave d might be underway towards 1.0940/50. If the above count holds, EURUSD should hold above 1.0768 handle, going forward. Overall bullish structure remains until prices stay above 1.0636 levels.
Strategy:
Long against 1.0636, targeting 1.1500
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Long against 1.0636, targeting 1.1500
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.