EURUSD : Bullish Waves In Play

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Jan 14 2016

EURUSD has turned up last week, away from 61.8% Fibonacci support which was a key support for this pair it seems as price jumped more than 200 pips so far. So a decline from 1.1060 high was in three waves, which is a corrective move called a zigzag that is now pointing to higher levels. We are anticipating higher prices for a red wave C) that will be confirmed when pair will break and close above the upper channel resistance line. In that case pair should continue higher through the rest of the month, up to 1.1200.

EURUSD, 4H