EURUSD immediate potential could be 1.1620

7 พ.ย. 2018

The EURUSD pair hourly chart might be indicating that bulls could be targeting 1.1620 resistance as immediate shot term target. Looking at the medium term wave count, we still favor a potential flat structure to unfold, which could push prices at least towards 1.1830 levels if not further. Please note that Wave C, which began from 1.1302 levels last week could push all the way through 1.2000/2100 levels as well. We shall take the case as each cycle unfolds. Keeping the short term target in view, it remains a safe strategy to hold long positions for now with potential risk below 1.1300 levels. Ideally prices should stay above 1.1350/60 levels going ahead.


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.