EURUSD Bullish Potentia Towards 1.1090 Remains - Intraday Update

EURUSD trades around 1.0873 at this point in writing and bulls remain poised to push through 1.1090 to terminate lower degree Wave iii, as discussed yesterday. A break above 1.0888 would confirm and add further confirmation. The medium term wave structure still indicates that EURUSD might have completed its corrective drop A-B-C around 1.0768, terminating potential Wave 2. Since then, Wave 3 could be underway and is expected to terminate towards 1.1500 and higher. In the immediate short term, the single currency pair looks to have carved lower degree waves i, and ii at 1.0927 and 1.0830 respectively. Wave iii of 3 seems to be underway now.

Strategy:

Long against 1.0770, targeting 1.1090 and higher.

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