EURUSD expected to turn bullish from 1.1300/30 levels

31 oct. 2018

The EURUSD hourly chart could be indicating that a re-test of 1.1300 levels is possible. If a flat A-B-C structure is unfolding as a corrective rally since 1.1300 lows, prices should remain above that and reverse. As an alternate, if an expanded flat A-B-C is unfolding, we could see a dip below 1.1300 levels before EURUSD reverses higher. In either case, it could be a safe strategy to remain long on dips as close to 1.1300 levels going forward. Please also note that the medium term wave count remains broadly unchanged after a 5 waves impulse drop between 1.2500 through 1.1300 levels earlier. High probable count from here remains that of a 3 wave corrective rally (flat or an expanded flat).


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