Image Source: DepositPhotosEuro turned up in November, it recovered with a sharp reaction higher up to 1.1 resistance where pair slowed down and made some nice pullback but a sharp one. Well, after a somehow hawkish ECB event yesterday, the euro is coming higher again, and it appears that the pair is tracing out now a five-wave recovery from October lows.That’s significant because it tells us that the euro trend can be changing even now on higher time frames, therefore we know in which direction we should look after any retracement. Ideally, pair will continue much higher in 2024 , but as always, the market will see some pullbacks on the way up. Possibly a new correction can show up from around 1.11 where wave (5) of 1 can look for some resistance. More By This Author:USDNOK Can Be Trapped In A Triangle
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