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Expect a possible bearish price action towards 1.1673

Expect a possible bearish price action towards 1.1673 | 13 December 2017

13 December 2017, EUR/USD

Expect a possible bearish price action towards 1.1673

Wave Analysis:

Perfectly as previously forecasted, the impulsive wave (c) stretched slightly to the lower side but is still few pips above the first target set at 1.1673. Today, we expect further bearish price movements with an ideal target at 1.1673. If this target is violated to the lower side, then we expect a possible bearish price movements towards 1.1120. According to the daily chart above, only short positions looks more ideal on this pair, But if the price can break above 1.1970, then I expect a possible rise towards 1.2071 where we'll be looking for a possible double top formation to short this pair. This pair should be traded alongside EURAUD, EURNZD, EURHKD and EURSGD. These pairs will have a similar price action today.

Trade Recommendations:

Expect a possible bearish price action towards 1.1673 and the next target at 1.1120

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Bob Stan
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