A daily chart for EURUSD has been presented today to have a re-look at the potential wave counts since last several weeks. Please note that EURUSD had dropped earlier between 1.2500 through 1.1300 levels respectively. It probably unfolded into an impulse, 5 waves as labelled here. The most likelihood after an impulse drop was a 3 wave corrective rally. With the kind of price action EURUSD has produced since last several weeks, a zigzag or flat is ruled out for now. It leaves us with either an expanded flat or triangle. Going with the first option for now, EURUSD could be setting up towards 1.1800 levels at least. Also note that a break above 1.1500 levels would instill further confidence on the proposed bullish setup.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.