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We're short towards 1.1120.

We're short towards 1.1120. | 07 November 2017

07 November 2017, EUR/USD

We're short towards 1.1120.

Wave Analysis:

During the previous trading day, euro dropped slightly to the lower side but is yet to reach our target set at 1.1120. During this intraday, we expect a possible rise to the upper side towards 1.1656, where we'll be looking to resell the impulsive wave (c) towards 1.1120. If the price can rise above 1.1656, then we expect further rise towards 1.2095, where we'll be looking for a possible sell. This pair should be traded alongside GBPUSD, NZDUSD, AUDUSD, and GBPAUD. These pairs have a strong positive correlation and will move in the same direction today.

Trade Recommendation:

We're short towards 1.1120.

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Bob Stan
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