The EURUSD bulls struggle to hold gains repeatedly for now around the 1.1600 mark, but are still holding above 1.1432 levels, critical support. This price action is keeping the structure intact for now and we would still maintain medium term bullish stance until prices remain above 1.1432 levels. A probable wave count after Wave B termination at 1.1432 levels earlier could be indicating that a iii of 3rd wave within the probable 5 wave structure for Wave C could be unfolding. If the above wave counts hold true, we could see prices rallying sharply towards 1.1620 and higher levels. On the alternate side, a break below 1.1432 would invalidate or delay the proposed rally.
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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.