ETPUSD Unraveling A New Rise; 0.8800 Minimum Target in View

Intermediate

Hello traders,

Today’s article is for ETPUSD also known as Metaverse ETP. On ETPUSD we can see a nice bullish recovery in play, up from 0.3003 level, which can be making a three-legged, or five-legged move. We already see a five-wave completed rally within wave (A)/(1), which was later then followed by a temporary pullback as wave (B)/(2), that found a base at the 0.5013 level. Current rally which is now in play, can be start of a final wave (C) or (3) that can take price towards the 0.8800 level (in case we are tracking a wave (C)), or towards the 1.103 second Fibonacci projection zone of 161.8, if price is indeed unfolding a bigger, five-wave cycle, up from the lows. That said, be also aware of temporary pullbacks, which may join the uptrend. As we know nothing moves in straight lines.

ETPUSD, 4h

4h etpusd mar 13 2019

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Current Market Analysis
Euro breaks down, GBPCAD threatens upside

US Dollar Index holds support and rebounds EURUSD seeds multiple negative signals, downside risks GBPUSD sends buy signal GBPCAD sets up more bullish AUDUSD negative and USDCAD buy signal USDTRY and USDBRL surge

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