EURUSD immediate potential could be 1.1620

7 nov 2018The EURUSD pair hourly chart might be indicating that bulls could be targeting 1.1620 resistance as immediate shot term target. Looking at the medium term wave count, we still favor a potential flat structure to unfold, which could push prices at least towards 1.1830 levels if not further. Please note that Wave C, which began from 1.1302 levels last week could push all the way through 1.2000/2100 levels as well. We shall take the case as each cycle unfolds. Keeping the short term target in view, it remains a safe strategy to hold long positions for now with potential risk below 1.1300 levels. Ideally prices should stay above 1.1350/60 levels going ahead.


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