Commentary: We wrote yesterday that “the drop to 1.4520 yesterday likely completed wave 4 and price should exceed 1.4751 and test 1.5000 before a larger reversal.”
The EURUSD has rallied strongly this morning, blowing through 1.4700 to 1.4713 and there is no reason to change the near term outlook that calls for a new high (above 1.4751). Near term support should be solid at 1.4639.
Strategy: Remain Bullish, move risk to 1.4632 (from 1.4520), target TBD