EURUSD has remained in control of bulls since 1.0636 lows. The wave structure since then could be as follows: The rally from 1.0636 through 1.1150 was an impulse, Wave 1.
the sideways consolidation turned out to be a triangle Wave 2, terminating around 1.0775. Since then, Wave 3 has been progressing higher towards 1.1500. Within Wave 3, EURUSD might have carved lower degree waves i, ii, and iii and iv as labelled here. If the above counts are correct, prices must stay above 1.1167 and continue higher towards 1.1500. Alternately, if prices break lower the medium term t=structure could change and also imply that EURUSD might have carved an interim high at 1.1422.
Strategy:
Long against 1.1167, targeting towards 1.1500
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
the sideways consolidation turned out to be a triangle Wave 2, terminating around 1.0775. Since then, Wave 3 has been progressing higher towards 1.1500. Within Wave 3, EURUSD might have carved lower degree waves i, ii, and iii and iv as labelled here. If the above counts are correct, prices must stay above 1.1167 and continue higher towards 1.1500. Alternately, if prices break lower the medium term t=structure could change and also imply that EURUSD might have carved an interim high at 1.1422.
Strategy:
Long against 1.1167, targeting towards 1.1500
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.