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Bulls taking the lead

Bulls taking the lead | 01 August 2017

01 August 2017, EUR/USD

Bulls taking the lead

Wave Analysis:

Perfectly as previously anticipated, the impulsive waves v, and (v) extended higher and are still showing signs of possible momentum to the upper side. During this intraday, we expect a possible extension of these impulsive waves with the first target around 1.24849 and the next target at 1.27483. If the latter is broken, then the price could extend even higher. A key support level can be seen around 1.1719, if the price can pullback to this level, then this will be the best place to pick a low risk buy opportunities. Expect a similar wave count in GBPUSD, NZDUSD, AUDUSD and EURHKD. These pairs have a strong positive correlation of up to +83% and will move in the same direction during this intraday

Trade Recommendations:

Expect a possible bullish price rally towads 1.24849.

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Bob Stan
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