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We're short with the first target at 1.1682

We're short with the first target at 1.1682 | 18 December 2017

18 December 2017, EUR/USD

We're short with the first target at 1.1682

Wave Analysis:

During the previous trading day, the impulsive wave (c) stretched slightly to the lower side but is still above the support level 1.1682. This is a short term support level and as long as the price remains above it, we expect an acceleration to the lower side and a possible breakout below it to continue short with an ultimate target at 1.1120. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and may go beyond 1.1120. This pair should be traded alongside EURHKD, EURCHF,EURAUD and EURNZD. These pairs have a strong positive correlation and will move in the same direction today,
Trade Recommendations:
We're short with the first target at 1.1682 and the next at 1.1120

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Bob Stan
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