Two weeks ago we mentioned that the pair has seen a floor near 1.0400/1.0350 and the counts suggested a potential correction first to 1.0640, 1.0745 and higher to 1.1050.
The first two targets have perfectly been reached and the focus now is on 1.105.
The momentum is still up, the major resistance lies at 1.0750, above here the market will proceed higher to 1.0820 and 1.0860. We then tolerate a small downward reaction to 1.0640/1.0580 before prices continue heading up to 1.1050.
The first two targets have perfectly been reached and the focus now is on 1.105.
The momentum is still up, the major resistance lies at 1.0750, above here the market will proceed higher to 1.0820 and 1.0860. We then tolerate a small downward reaction to 1.0640/1.0580 before prices continue heading up to 1.1050.