Earlier this week, Euro bounced off from the lower supportive trend line forming bottom of the rising channel, headed long and is still showing signs of possible momentum to the upper side. As long as the pair remains above this trend line, we expect a possible impulsive bullish wave count towards 1.0865 or even a breakout. This view can only be disregarded in case the price end up below 1.0587 and most importantly below the lower supportive trend line. This view is highly anticipated since GBPUSD, AUDUSD and NZDUSD, all positively correlated pairs are pretty much bullish and may trade on the higher ranges during this intraday.
Trade Recommendations:
Expect a possible bullish price movements towards 1.0865
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Bob Stan
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