The EURUSD hourly chart story could be unfolding into potential wave c lower towards 1.1460/70 levels. That is also fibonacci 0.618 support of the entire rally between 1.1300 and 1.1730 levels respectively. The drop from 1.1730 levels could also be labelled as a potential w-x-y -0.20% complex corrective wave structure, not shown here. To simplify, we could assume a 3 wave corrective drop from 1.1730 through 1.1466/70 levels as complete. Overall, the EURUSD setup remains encouraging with a probable push higher towards 1.2000 levels possible.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.