During the previous trading week, the impulsive five wave cycle pushed the price massively to the upperside and is still pretty much bullish not only on the daily chart, but also on the 4 hours chart. Following the breakout above 1.1175, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of both the impulsive waves (v) and 5 and could break above 1.1521 towards 1.200 or even higher. This view can only be invalidated in case the price breaks below 1.1025.
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