EURUSD stays bullish against 1.1213 for now

Nov 22, 2018

We have preferred not to change the time frame or potential wave counts for EURUSD, that we had discussed yesterday. The single currency is seen to be trading above 1.1400 levels again at point in writing, looking poised to continue its rally above 1.1500 levels in the short term and towards 1.1800/20 levels in the medium term. After having produced an impulse drop from 1.2500 through 1.1300 levels respectively, the EURUSD could be producing a 3 wave corrective rally (A)-(B)-(C), unfolding as a potential expanded flat until now. If the above count holds to be true, we could witness an extended rally towards 1.1800 or higher levels as Wave (C) unfolds into 5 waves. A safe trading strategy therefore could be to remain long or initiate fresh longs around 1.1350 levels against 1.1213; with potential targets above 1.1800 levels.


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.