EURUSD – Up
Wave Analysis
Instead of rallying to the upper side, euro continues to correct itself to the lower side but is still above the weekly supportive zone 1.36067-1.14595. We expect the rebound from this support to have marked the end of the corrective three wave cycle, that any clear movements to the upper side will be the unfolding of an impulsive five wave cycle but should not go beyond the weekly resistance level 1.23210. This view can only be invalidated in case the price break below 1.36067, and even then, we’ll have to wait for another break below 1.14595 to confirm further rally to the lower side.
Trade recommendations:
We’re waiting for buy positions
101% Double the volume
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