EURUSD Trading In A Possible Three Wave Rally, Corrective Wave B) May Be In Sight

Daily Forex Technicals |

Written by DeltaStock Inc. |

Nov 07 16 09:36 GMT

EURUSD is turning strongly to the upside for the last two weeks, away from 1.0850, which is not a surprise, as market completed a five wave decline from 1.1280 high. Rally is now very sharp, and it has characteristics of an impulse, so it can be the first wave A) as part of a three wave rally up into wave E. However, sometimes E waves are also sharp and not so complex, so we also need to be aware of an immediate decline, especially if we consider US elections tomorrow.

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DeltaStock Inc. – Online Forex & Securities Broker

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EURUSD Trading In A Possible Three Wave Rally, Corrective Wave B) May Be In Sight