The breakout above 1.1050 promoted the case from more upside. The rally through 1.11 also confirms the uptrend from July. From a wave perspective it is likely that this is the early stages of wave-(3), in fact wave-1 of (3) is likely completing and a pullback (wave-2) can offer the next opportunity for fresh longs. (daily) S/t, once we can locate a small impulse lower (on say a 15 or 30min chart) then the case can be raised for a wave-2 correction towards 1.1054; that is the previous 4th wave low and a Fib retracement zone. Conviction: Med Levels: Support – 1.0980, 1.0930, 1.0887 Resistance – 1.1050, 1.11, 1.12
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