The EURUSD consolidation continues for now with the entire area highlighted within a rectangle on chart presented. Please note that the drop from 1.1733 to 1.1526 and subsequently rally through 1.1722 look like an a-b-c wave structures respectively. With each day passing within the consolidation range, probabilities of a complex corrective structure increases. A clear break above 1.1745 levels would be required to push further. Also note that a sharp decline to support of 1.1470 levels still remains a probability. Overall bullish structure remains intact but a sharp decline remains probable, before rally could resume.
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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.