EURUSD Wave C to accelerate: 1.1620/30 in sight ?
The EURUSD hourly chart is suggesting that Wave C could be ready to accelerate soon. The currency pair is seen to be trading around 1.1394 levels at this point in time, ready to push through resistance above 1.1620 levels soon. Looking into lower degree wave structure, the rally from 1.1302 through 1.1455 last week may be wave i and the recent drop could be labelled as wave ii. Please note that prices dropped through 50% retracement of wave i until now, and it could drop towards 61.8% fibonacci retracement as well. If the above wave counts hold true, prices should ideally remain above 1.1302 and wave iii should hit at least 1.1620/30 levels as projected here. We maintain our medium term bullish outlook.
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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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