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EURUSD: Now Corrective Rally Then Down Again


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July 24 2014

The EURUSD spiked lower earlier, but now reversing from 1.3420/1.3440 lows where we highlighted Fibonacci support levels yesterday in our past updates. Pair is recovering after better than expected German PMI figures. Based on the price action we see EURUSD is likely going to reach even higher in sessions ahead, as we are looking for a three wave retracement back in wave (iv) that may rally back to 1.3530/1.3550 zone, to former wave (iv).

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