The EURUSD broke below its immediate channel line support towards our projected direction. It is seen to be trading around 1.1647 levels at this point in time and could lead to further drop towards 1.1590/1.1600 levels going forward. Looking into the wave structure, an expanded flat is most likely being carved out at the moment and the projected termination points could be between 1.1500 and 1.1600 levels going forward. With a few pips remaining on the down side after having taken 200 pips out in two days flat, we would now change our stance from neutral to long again.
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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.
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.