The EURUSD has reversed sharply from 1.1500 highs. Ideally, prices were expected to remain above 1.1350 levels to keep its medium term bullish structure intact but the markets as usual springs up surprises and alternate wave counts come into picture. At this moment in time, the EURUSD is seen to be trading around 1.1331 levels, and might threaten our proposed bullish outlook if breaks below 1.1300 levels. The most probable wave count until prices stay above 1.1301 levels remain an A-B-C flat, where wave C might be unfolding into an ending diagonal of a flat. Bottom line is that 1.1300/01 should hold for now. We shall turn neutral if prices break lower and watch for further price action to take further positions.
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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.
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.