EURUSD rallies past 1.1400 levels. Wave iii to accelerate!

30 nov. 2018The EURUSD pushed higher towards 1.1400 levels yesterday before pulling back lower. After rallying from 1.1267 through 1.1401 levels, the pair is consolidating lower now and is seen to be trading at 1.1377 levels at this point in writing. Looking into the short term wave counts now, a lower degree wave iii could be unfolding into 5 waves and push towards 1.1650 levels, going forward. Please note that this consolidation could find support towards 1.1330 levels or higher but the EURUSD should continue trading above 1.1267 levels for the structure to hold. Interim price resistance is at 1.1472 levels and a push through that should accelerate towards 1.1650 levels at least. Furthermore, it the higher degree Wave (C) is unfolding as an expanded flat, we should see EURUSD rallying towards 1.1820 levels before finding resistance. Overall, we maintain our bullish stance and buying on dips could be a safe trading strategy.


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