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we're looking for long positions

12 September 2018, EUR/USD

Wait for a clear break above 1.16055

Wave Analysis

During the previous trading day, nothing much happened on this pair, euro is still above the weekly support level 1.1418. As long as the price remains above this level, we expect a possible momentum to the upper side. The anticipated bullish price rally is the continuation of a corrective three wave cycle and should push the price upwards towards 1.25215. This view can only be invalidated in case the price breaks below 1.16. If this is the case, then we'll wait for another break below 1.14 to confirm a momentum towards 1.049.

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Graham Osano
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