EURUSD is very bullish since last Thursday’s ECB press conference when the pair reversed significantly higher, clearly in an impulsive fashion, with an extensions above the 1.3300 level.
We know that impulsive structures are five wave patterns that unfold in the direction of a larger trend.
With that said, we expect even higher levels on EURUSD after a pull-back is completed. It looks like wave (iv) is in progress which will either look for a base at 1.3300 (23.6% Fibo) or 1.3260 (38.2% Fibo) area.
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