The EUR/USD bounced at the support levels (green/blue) and showed one more bullish rally. The new higher high is challenging the 100% Fib level at 1.13 of wave 2 (green), which is a break or bounce zone.
The EUR/USD is in a bullish trend
...The USD/JPY has broken above the resistance trend line (dotted orange) which confirms the completion of wave 5 (orange) within wave C (brown). This particular wave 5 failed to break below the low of wave 3 which is called a truncated wave 5. The ne
...The EUR/USD broke above the resistance trend line (dotted red) and invalidated the bearish wave structure. The new wave count is showing the alternative 3 wave ABC (blue) within wave 4 (purple). The resistance at 1.13 and the support (green) at 1.
...The British Pound weakened last week ahead of the UK elections which will take place on Thursday 8 June 2017. Some opinion polls are showing a shrinking lead for the current Prime Minister Theresa May of the Conservative party and a rebound
...The EUR/USD has broken below the support trend line (dotted blue) which could kick start momentum within wave 3 (blue) towards the Fibonacci targets. A break above the resistance (red/orange) invalidates the wave 3 formation.
The E
...