We're long | 31 January 2018

31 January 2018, EUR/USD

We're long

Wave Analysis:

Instead of continuing short, the impulsive wave (c) ended slightly earlier than expected and could not go beyond 1.2330. We expect this level to have marked the end of the immediate corrective three wave cycle, and that the current bullish price rally is an impulsive wave count and should head towards 1.2530. With that in mind, we're looking for a possible buy position with an ultimate target at 1.2530. This view can only be rendered futile in case the price end up breaking below 1.2380, this being the case we expect a possible bearish rally towards 1.2286. This pair should be traded alongside GBPUSD, NZDUSD, AUDUSD and EURHKD. These pairs have a strong positive correlation of up to +62% and will move in the same direction today.

Trade Recommendations:

Remain long towards 1.2530

FreshForex cancels commissions!

Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus