EUR/USD Resumes the Uptrend

U.S. Jobless Claims fell 19K to 793K, but still more than 755k forecast, so dollar is moving down across the board while EURUSD breaking higher into wave five. There is room for 1.2180, but keep in mind that after every five waves correction follows so do not be surprised by a potential slow down in the next few sessions. Ideally, there will be a retracement in three waves and an opportunity to join the uptrend. Keep in mind that the drop from January high was in three waves and that bullish trend has resumed, so more upside will be expected while market trades above 1.1950 invalidation level.

EUR/USD 4h