EURUSD holds well above 1.1213 levels

17 thg 12, 2018The EURUSD failed to drop below critical support at 1.1213 levels on Friday, unlike the US Dollar Index . This could be seen as a divergence, indicating a potential change in the direction of short/medium term trend. The EURUSD reversed from 1.1270 levels on Friday and is seen to be trading around 1.1325 levels at this point in writing; looking to continue its rally. Looking into the wave counts, a higher degree Wave (C) is still being worked out, within an (A)-(B)-(C) correction. Please further note that if it is unfolding as an expanded flat, prices could rally towards 1.1800/20 levels, before reversing lower again. The above structure could confirm and bulls could accelerate further once prices break above 1.1500 levels. It is a safe strategy to hold long positions till prices stay above 1.1213 levels, with potential targets as 1.1650 and 1.1800 levels respectively.


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