EURUSD finds support ahead of 1.1300?
The EURUSD dropped to 1.1306 levels yesterday before finding interim support. Please note that yet another low could be print between 1.1268 and 1.1280 levels before it resumes its rally. Looking into the lower degree wave counts, EURUSD might be unfolding wave ii or b as a standard or a running flat. Please note that wave i or a potentially terminated at 1.1470/75 levels earlier. If the above counts hold true, EURUSD would terminate wave ii or b, ahead of 1.1213 levels and move swiftly towards 1.1650 or even higher. The larger degree wave counts remain unchanged for now, and that Wave (C) could be unfolding as an expanded flat or a triangle and push towards 1.1650 or 1.1820 levels respectively. Please note that 1.1213 remains as a critical support now, and prices must stay above that to keep the medium term bullish structure intact.
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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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