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Still correcting itself

Still correcting itself | 12 July 2018

12 July 2018, EUR/USD

Still correcting itself

Wave Analysis

Despite the three bullish pin bars seen for the past three week's euro is yet to make any significant moves to the upperside. Instead, this pair has been in the dropping mode but is still above the weekly supportive zone 1.14595-1.16067. This is a key zone and unless it is clearly broken to the lowerside with a big red candle, we expect a possible rally to the upperside. The anticipated bullish price rally is the unfolding of an impulsive five wave cycle and should break above 1.23210.

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Still correcting itself

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Still correcting itself

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Bob Stan
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