EURUSD proceeds higher potentially toward 1.1391 levels

7 déc. 2018

The EURUSD is seen to be trading around 1.1390/95 levels at this point in writing after having tested 1.1310 levels yesterday. Immediate interim resistance is seen at 1.1420 levels, followed by 1.1473 respectively. A push through these would be considered encouraging for the bulls to remain in control further. The medium term and higher degree wave structure remains intact for now, with EURUSD unfolding into Wave (C), within the (A)-(B)-(C) correction, as a potential triangle or an expanded flat structure. Please note that potential upside targets remain at 1.1600/50 and 1.1800/20 levels respectively. For the above structure to hold good, prices should remain above 1.1213 levels going forward. Overall, the medium term bullish structure remains intact for now.


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