No MC Hammer not Today!
We sincerely apologize to all MC Hammer fans but the EUR/USD can in fact touch our target zone (yellow box). To be precise: It is supposed to do so! We expect a corrective wave 4, as depicted in yellow, followed by a bullish turnaround. The target zone for a turnaorund lies between the 23.6% Retracement and the 38.2% Retracement. This support area should not be broken in order for the upward trend to continue as indicated by the arrows. The yellow box can be used to for long trades, with a target of round about $1.20 - $1.21.
What are your thoughts on our scenario?
Happy to discuss!
We sincerely apologize to all MC Hammer fans but the EUR/USD can in fact touch our target zone (yellow box). To be precise: It is supposed to do so! We expect a corrective wave 4, as depicted in yellow, followed by a bullish turnaround. The target zone for a turnaorund lies between the 23.6% Retracement and the 38.2% Retracement. This support area should not be broken in order for the upward trend to continue as indicated by the arrows. The yellow box can be used to for long trades, with a target of round about $1.20 - $1.21.
What are your thoughts on our scenario?
Happy to discuss!
