EURUSD bigger picture confirming a meaningful bottom ?

21 Ağu 2018

In our discussion yesterday, we had kept an alternate count of yet another potential low, to be open as the corrective rally looked 3 waves. With EURUSD pair pushing above 1.1520/30 level in a rush, the alternate is ruled out for now, indicating a meaningful bottom in place at 1.1301 last week. The daily chart view presented here, instills further confidence into a probable counter trend rally, at least through 1.1750/1.1800. We shall not be surprised to see prices pushing even through 1.2050 level, which is fibonacci 0.618 resistance of the entire drop from 1.2550/70 through 1.1301 levels respectively. Bulls could be now expected to remain in control, until prices stay above 1.1300 level going further.


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