EURUSD retracement complete at 1.1353 levels?
Since last several trading sessions, the EURUSD pair has drifted sideways with much anticipated move higher being delayed in time. Even at this moment, it has retraced its latest upswing between 1.1300 and 1.1569 levels by more than 61.8%, with prices forming a low at 1.1353 levels on Friday. Looking at the larger wave structure, the EURUSD seems to be carving out an expanded flat (A)-(B)-(C) since 1.1300 lows on August 15, 2018. If this count holds true, prices should ideally remain above 1.1213 levels going forward. The lower wave counts also suggest that Wave (C) could be in progress and ideally unfold into 5 waves, pushing prices towards 1.1800/20 levels at least. Overall, bullish moment could resume from current price action around 1.1400 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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