Hello traders!
EURUSD was down in January, but it is a very rare case to find a peak at the beginning of the year, especially after recent three-wave A-B-C corrective decline only.
Well, with current strong bounce back above channel resistance line, it seems like it's confirming bullish trend and we believe that EURUSD may retest the 1.2350 highs in coming days/weeks, so more upside is in view as long as it's trading above 1.1950 previous lows.
Trade well!
If you like what we do, then please like and share our idea.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
EURUSD was down in January, but it is a very rare case to find a peak at the beginning of the year, especially after recent three-wave A-B-C corrective decline only.
Well, with current strong bounce back above channel resistance line, it seems like it's confirming bullish trend and we believe that EURUSD may retest the 1.2350 highs in coming days/weeks, so more upside is in view as long as it's trading above 1.1950 previous lows.
Trade well!
If you like what we do, then please like and share our idea.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Comment:
Despite recent intraday decline, EURUSD quickly and sharply recovered in an impulsive fashion, so EURUSD remains clearly bullish and eyeing 1.22 - 1.23 area or higher.
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