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Waiting to continue long

05 October 2016, EUR/USD

Waiting to continue long
Wave analysis
Yesterday, Euro fell from 1.1232 to 1.1136 but has currently retraced back to its yesterday's opening price. During this intraday, we expect this pair to trade with the range 1.1237 and 1.1136. Any clear breakout above this range will call for long positions with an ideal target at 1.1323 while a clear breakout below 1.1136 will push the price to the lower side but should not go beyond 1.1073. We hope to trade this pair alongside USD/CHF and USD/JPY. These pairs will have an exact opposite price action during this intraday.

Trade Recommendations:

Wait for a clear breakout above 1.1237 to go long with an ideal target at 1.1323

Graham Osano
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