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Short

07 December 2017, EUR/USD

Short

Wave Analysis:

During the previous trading day, we saw an extension of the impulsive wave (c) to the lower side but is yet to hit our target set at 1.1673. Today, we expect a possible bearish momentum towards 1.1673 and should break lower towards 1.1120 or even lower. The anticipated bearish price rally is merely the continuation of the impulsive wave (C) to the lower side and could be extensive in nature. This bearish price rally is highly anticipated since the corrective wave (b) failed to go beyond the end of the impulsive wave (5), 1.2071, this is a possible bears dominance and could mean we're short towards 1.1673. According to the current set up and structure, we highly recommend looking for a short orders towards 1.1120.

Trade Recommendations:

We're short with an ultimate target at 1.1120

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Graham Osano
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