Eur/Usd : 1.30 ?!
The corrective uptrend has it's first wave completed as a double three (wxy). Now price is in a wave B. There will be a lot of possible ending points for wave B as it can always transform into a bigger wave. For now i will focus on the most bullish possibility, which has wave B finishing around the 50% fibonacci retracement of the rally from 1.04625 to 1.17140 at 1.1088. This would mean there will be a very short wave B, but eur/usd can be very strong in early trends, with small corrections and surprises in the direction of the trend, just look at previous (monthly/weekly) turning points. In the title i say price could go up to 1.30, but this is in case the pattern is a flat, should the rally be corrective and form a double three, the target is 1.2318.
Related publications
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.