EURUSD terminates wave ii at 1.1305 ?
EURUSD print a lower low at 1.1305 levels today before pulling back, and is at 1.1320/25 levels at this point in writing. We discussed probability of EURUSD dropping to 1.1312 levels before resuming rally and if this is the case, it could be safe to assume that the lower degree wave ii (highlighted on the chart presented here), terminated at 1.1305 levels. Looking at the short term counts again, EURUSD could be ready with waves i and ii (at 1.1473 and 1.1305 levels respectively) and wave iii could be on its way. Please note a higher degree wave C could be unfolding into 5 waves with potential targets at 1.1650 and 1.1820 levels respectively. Overall, the bullish momentum could stay, until prices stay above 1.1213 levels, going forward.
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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.
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