EUR/USD: buy target - 1.1500
By: Dmitriy Chernovolov
- EUR/USD rises inside intermediate ABC correction (2)
- Next buy target - 1.1500
EUR/USD continues to rise inside the C-wave of the active intermediate ABC correction (2). This correction started earlier this month – when the pair reversed up from the support zone lying between the support level 1.1100 and the 61.8% Fibonacci Correction of the previous intermediate (C)-wave from the middle of July (which belongs to the extended primary ABC correction ② from March, as you can see below).
EUR/USD is likely to rise further to the next buy target at the resistance level 1.1500 (target price calculated for the completion of the active waves C and (2)).