Marketiva Forex Trading - Euro toward second attempt on important resistance
From the day opening of this trading week until the time I wrote this posting today,Euro has been fully bullish.
Its now on the second attempt of last week high at 1.3522.
We could see an elliott wave flat correction upon that attempt.Next pattern will be forming after Euro decide whether it want to trade above that barrier or continue current consolidation.
OnlineBisnes Elliott wave point of view would suggest a motive bullish trend if euro able to break 1.3522 barrier and continue to trade higher .
1st target for that motive or impulsive wave is at 50% of fibonacci retracement of the whole recent correction at1.3530 area.Next will be 1.3565 and expanded of impulsive wave could be at 161.8% of fibonacci expansion at 1.3600 zone.
If euro failed to trade higher,it could be forming flat correction with limit at 1.3520 area before jump into 1.3440-13450 zone.
As we all know today gonna be the day of All Central Bank Speach,so there will be more high volatility upon that speach.
Regards.
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