EUR/USD trying to complete a five wave drop, bulls in view? [Video]

Gregor Horvat Wavetraders

As the dollar trades lower at the start of the week, EURUSD is naturally moving to the upside, and so far, we’re seeing a very nice and interesting rebound. The price is already attempting to recover back into the triangle range, which is quite significant. It suggests that sooner or later, we might have a confirmed low for the euro. This development isn’t surprising, as we’ve been discussing a final thrust out of the triangle, so this reversal aligns with expectations. However, I’d still like to see a move above 1.0400, or even higher, to be more confident that the bulls are truly in control here.

If you're trading EURUSD, keep an eye on the German CPI data, as we’ll get releases from several German states regarding the latest inflation figures.

Grega

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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