EURUSD bottom might have formed at 1.1463
The EURUSD pair hourly chart view is suggesting that a meaningful bottom might already be in place around 1.1463 levels on Friday. Also note that EURUSD had bounced from a fibonacci 0.618 support of the previous rally as shown on the chart view. If the above structure holds good, we could see higher tops and higher bottoms from current price action and ideally prices would remain above 1.1463 levels. An an alternate count though, one could be prepared for yet another low around 1.1450 levels before the rally could resume. Overall, the medium term bullish outlook could remain intact till prices 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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