EURUSD remains bullish above 1.1213 levels

7 Dis 2018

There is not much change in the structure from what was presented yesterday. EURUSD trades at 1.1365 levels at this point in time, ideally expected to stay above 1.1310 at least. As discussed earlier, a higher degree Wave (C) is looking to unfold into 5 waves in case of an expanded flat or 3 waves in case of a triangle. In either case, we expect prices to rally at least through 1.1650 levels if not further. Immediate price support is at 1.1310, followed by 1.1213, while resistance is at 1.1473 levels respectively. The higher degree wave structure produced an impulse drop between 1.1250 through 1.1300 earlier. It is being retraced by an (A)-(B)-(C) corrective structure at this point in time. Overall EURUSD remains bullish for medium term against 1.1213 levels.


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