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Corrections | 26 September 2017

26 September 2017, EUR/USD

Corrections

Wave Analysis:

Perfectly as previously forecasted, the impulsive wave (c) extended narrowly to the lower side but is yet to hit our target. During this intraday, we still expect a possible bearish extension of this bearish price rally but should not go beyond the daily support level 1.16894 where we'll be looking to re-buy this pair at the least risk possible. As long as the price remains above 1.16894, we expect a rebound from this level to buy this pair, if this level is violated, then an acceleration towards 1.11282 will be the next target. This pair should be traded alongside GBPUSD, NZDUSD, and AUDUSD. These pairs have a strong positive correlation and will move in the same direction during this intraday.

Trade Recommendations:

Expect further bearish corrections towards 1.16894

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Bob Stan
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