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Buy euro upon a rebound from 1.2149

13 March 2018, EUR/USD

Buy euro upon a rebound from 1.2149

Wave Analysis:

During the previous trading day, No significant move wave seen on this pair. Rather, euro pulled back upwards slightly but is still above the daily support level 1.2149. As long as this level protects the lower side, we expect a possible momentum to the upper side. The anticipated bullish price movements is the unfolding of the impulsive wave (5) and should break above 12965 towards 1.35 or even higher. This pair should be traded alongside GBPUSD, EURHKD, EURCHF and NZDUSD. These pairs have a strong positive correlation of up to +72% and will move in the same direction today.

Trade Recommendations:

Buy euro upon a rebound from 1.2149 with your take profit at 1.2965

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Graham Osano
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