EURUSD hits fibonacci 0.382 retracement of wave iii marked on the chart here at 1.1185 handle. The currency has bounced off and is trading around 1.1212 as we write the article. At times, the instrument behaves so much in tandem with the proposed Wave Guidelines that it is hard to believe. The 4th wave usually terminates around fibonacci 0.382 of Wave 3, we just got that. Ideally EURUSD should now proceed towards 1.1500. Also note that break above 1.1250/60 confirms bullish reversal. The structure remains bullish against 1.0775, the Wave 2 termination point as Wave 3 enters into its final leg. We shall update here for any change in the structure.
Strategy:
Long against 1.0775, targeting 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.
Strategy:
Long against 1.0775, targeting 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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.