Looking at the recent price action, in line with EW wave count from daily chart from December. Looking at price completing wave structure towards 1.18.
Intra day wise looking at price meeting some overhead resistance at the 1.15700-1.16100 handle, coming down and possibly testing previous resistance turned support around the 1.14800-1.1500 handle.
The breakout from the wedge structure seems to coincide with the bullish wave count if we look at the distance from points AB on the Chart, if price abides and wave count is intact, AB = CD pushes toward the 1,1800 handle.
Trading foreign exchange involves high Risk and may not be suitable for all investors. Past performance does not guarantee future results. Charts and analysis is for educational purposes only. Effective risk management is advised at all times.
Intra day wise looking at price meeting some overhead resistance at the 1.15700-1.16100 handle, coming down and possibly testing previous resistance turned support around the 1.14800-1.1500 handle.
The breakout from the wedge structure seems to coincide with the bullish wave count if we look at the distance from points AB on the Chart, if price abides and wave count is intact, AB = CD pushes toward the 1,1800 handle.
Trading foreign exchange involves high Risk and may not be suitable for all investors. Past performance does not guarantee future results. Charts and analysis is for educational purposes only. Effective risk management is advised at all times.
Will watch till we get a valid buy signal before looking to load a long.