EURUSD carved a lower degree wave ii around 1.1330 ?

26 בנוב׳ 2018The EURUSD dropped yesterday towards 1.1327 levels before closing the week at 1.1335 levels. Please note that potential remains for a drop towards 1.1312/15 levels, before resuming rally. Looking into the short term wave counts, it seems that a lower degree waves i and ii might be in place with wave i terminating around 1.1470/75, while wave ii at 1.1327 levels respectively. If the above counts hold true, we could see EURUSD rally up to 1.1650 and further as waves iii, iv and v unfold, within the larger Wave C and highlighted here on the daily chart view. An an alternate, Wave C could unfold into 3 waves as well turning the probability of a triangle. Overall, we maintain our bullish outlook for EURUSD until prices stay above 1.1213 levels.


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