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EURUSD has finished five waves up from the lows at 1.0981. This implies a three wave pull back and another upward move above recent highs at 1.1116 should be expected. This pull back is considered a buying opportunity.
As can be seen in the 4 hour chart above, EURUSD is now correcting the impulsive move up from 1.0981. The pull back should reach an area between 1.1065-1.1030. A move below 1.1030 will increase the chances of this bullish scenario failing. According to this wave count I expect to buy this pull back as a new upward move of another 5 waves should follow and eventually push prices back above 1.1115. More updates on this scenario will come the following days as price unfolds.InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.