There is a high probability that Euro have formed a near term bottom at 1.1300. The rally from 1.1300- 1.1735 seems to be an impulsive 5 wave rally, so the rally is expected to continue towards 1.1830/1.2000 levels in the coming days after the correction/consolidation. In the chart I have plotted two possible paths which Euro could take in the near future. Euro could most probably take the path 2 to complete the a-b-c correction somewhere around 1.1500/1.1450 region before moving higher towards 1.2000.
Please consult your financial advisers before taking any decisions.
Good Luck Traders!!!
Please consult your financial advisers before taking any decisions.
Good Luck Traders!!!