EURUSD still finding Wave ii termination? Could be 1.1280

28 thg 11, 2018

The EURUSD dropped lower than what was expected as a potential wave ii termination point, around 1.1320 levels. It trades close to 1.1290 at this point in writing and is expected to find support around 1.1275/80 levels as fibonacci 0.786 support passes through. Looking into the wave structure, wave i and ii counts still remain valid as presented on the daily chart here. A higher degree wave (C), could be unfolding as an expanded flat or a triangle and prices could push through 1.1800 or at least 1.1650 levels respectively. It remains to be seen where EURUSD would terminate its wave ii. For the above scenario to remain valid, prices should hold above 1.1213 levels going forward. Overall, medium term outlook remains bullish .


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