As previously forecasted, the impulsive wave 5 traded perfectly short as previously forecasted and even formed a perfect pin bar on the daily chart. During this intraday, we expect a possible momentum to the lower side and may even break below 1.1079. From the current chart set up and structure, now is the correct time to go short with an ideal target below 1.1079. Expect a similar impulsive wave in the other positively correlated pair EUR/HKD. These pairs have a strong positive correlation of up to +0.92 and will have a similar price action during this intraday.
Now is the time to go short with an ideal target at 1.1079