EURUSD is coming strongly and impulsively higher after we spotted a bullish breakout out of a daily bullish ABCDE triangle pattern, which occurred after the NFP disappointment at the beginning of August.
On August 06 we shared a 4-hour chart, where we warned about the first wave 1 of a new five-wave bullish cycle that can send the price higher into wave 3 after a pullback in wave 2 that can retest the support around 1.0900 area.
As you can see today on August 26, EURUSD is coming impulsively higher within a projected wave 3 and looks like there’s room for more gains, just watch out on wave 4 pullback that can retest the support around 1.1100 area before the uptrend for wave 5 resumes.
As long as the price is above 1.1000 invalidation level, EURUSD is buy the dip.
For a detailed view, you can watch below our free video analysis shared 4 days back on August 22
If you are interested in more analysis like this, you may want to join our live webinar today on Monday August 26 2024 @ 15.00CET
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