EURUSD bottom in place at 1.1330/40 ?
The EURUSD pair had dropped to 1.1340 levels on Friday before reversing sharply above 1.1400 levels by close. This could be the first sign of a meaningful bottom in place around 1.1340 levels. It is seen to be trading close to 1.1400 at this point and could be preparing to push towards 1.1433 levels to break the initial price resistance on hourly chart view. Looking into the wave structure, seems like a standard flat A-B-C could be in the making now, with potential Wave A and B in place at 1.1833 and 1.1340 levels respectively. We maintain our medium term bullish outlook for now, with potential price targets above 1.1850 levels. Please note that ideally EURUSD should stay above 1.1300 levels.
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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.
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