EURUSD started the week off with a strong bullish move, but mid week we have seen seller start to sell into the pair as the outlook here is we may be trading in a bit of a range as long as highs at 1.1450 are not breached.

The current wave count here shows that there is a strong possibility we can do one more high. This would be the "stop run" that will take out weak shorts who have placed stops above 1.1400

The count hints at a subdivided C wave, a pattern that tends to occur when a wave structure is long in time. The a/b marked in grey indicates it is a wave of a smaller degree.

Targets for the next wave up are 1.1410 which is where the B wave would complete.


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