The EURUSD bulls have taken a break since recent swing highs at 1.1569 levels. The single currency pair has retraced lower towards 1.1420/30 levels as a potential discussed earlier. Please note that prices are stalling and finding support at the previous Wave iv at a lower degree, not shown here. It is important to note that major support zone is around 1.1410 levels which is fibonacci 0.618 of the recent up swing between 1.1300 and 1.1569 levels respectively. Looking at the overall wave structure, EURUSD looks to be unfolding Wave (C) of the expanded flat (A)-(B)-(C) labelled on the daily chart view and potential targets are at 1.1800/20 levels respectively. Ideally, prices should stay above 1.1300 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.