EURUSD potential ending diagonal structure for the (5) wave, discussed earlier remains valid till prices stay above 1.1216 and broadly above 1.1172 levels. Please note that if prices were to drop below 1.1172 levels, the proposed ending diagonal wave structure would turn invalid and further bearishness could continue. Looking into the short term wave structure, the rally from 1.1216 levels seem to have further potential through 1.1500 levels going forward. An aggressive strategy could be to remain long against 1.1216 levels or wait until prices break through 1.1500 levels and then buy on dips.
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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.