Home Forex Analysis And Forecasts EURUSD : Pullback May Head Towards 1.1100-1.1150 Level

EURUSD : Pullback May Head Towards 1.1100-1.1150 Level

EURUSD is recovering away from 261.8% where we highlighted the possibility for end of wave 5 that completed an impulsive red wave 1). We know that after every five waves correction follows so we see current price in wave 2) that should be made by three smaller waves. So far we see only one leg up from the low, wave A, so rally is not done yet as we expect more upside after wave B pullback. Ideally EURUSD price will retrace back to 1.1100-1.1150 zone from where downtrend may resume later this week.

EURUSD, 4H
ew-forecast

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