EURUSD initial target potential is 1.1500/10

30 oct. 2018

The EURUSD pair is consolidating since printing highs at 1.1420 levels earlier. It could be unfolding as a combination (W)-(X)-(Y), and prices may re-test 1.1360 levels before resuming rally. Looking into the medium term wave structure, we probably have Wave A and Wave B in place already, with wave B terminating last week around 1.1340 levels. By most probabilities we could be witnessing Wave C rally from current levels, provided prices stay above 1.1340 and broadly above 1.1300 levels going forward. If the above count holds we could see a sharp rally towards 1.1500/10 levels from 1.1360 levels. We maintain our medium term bullish count for EURUSD against 1.1300 levels for now.


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