EURUSD possibly terminates wave ii or b at 1.1287 levels!
The EURUSD has dropped lower below 1.1306 levels and made fresh lows at 1.1287 today, indicating a potential termination of the lower degree wave ii or b as highlighted on the chart here. Please note that it could still terminate lower below 1.1268 levels, but it is expected to stay above 1.1213 levels if the above structure needs to hold. Looking into the wave structure, a lower degree wave ii is being carved out within the higher degree Wave (C), to produce either as an expanded flat or a triangle. Bottom line, till the time prices stay above 1.1213 levels, we could see them rally through 1.1650 and 1.1820 levels respectively; before the trend could resume lower again. On the flip side, a break below 1.1213 levels could delay the corrective structure discussed above.
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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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