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Still bullish

12 October 2017, EUR/USD

Still bullish

Wave Analysis:

During the previous trading day, euro could not be contained below the 4 hour resistance line 1.18286, the pair broke above this zone with a big green candle, this was a clear bullish dominance signal and means the buyers are in complete complete control, thus, we expect a possible bullish price rally towards 1.19020 and could extend even higher. According to the 4 hour chart above, only a buy position can be recommended towards 1.19020. This pair will have a similar price action to GBPUSD, AUDUSD and NZDUSD.

Trade Recommendations:

Look for a long position with your target at 1.19020

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Graham Osano
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