Technical outlook:
EURUSD seems to have finally terminated the proposed wave ii, within wave (iii) at 1.0937. The above video transcript highlights price action beginning of this week, and another update shall be followed soon. Please note that 1.0927 remains intact which keeps the bullish count valid. The channel line seen here has provided the necessary support it seems and a push beyond immediate resistance at 1.1024 would confirm that a meaningful low is in place. The wave structure still remains constructive for bulls with wave (iii) progressing towards 1.1185 and higher. It is too early to confirm but EURUSD has potential to push through 1.1450 and towards 1.1800, 1.2000 levels. Trading point of view, longs are favored against 1.0927.
Trading plan:
Remain long against 1.0927, target is 1.1185.
Good luck!
