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Remain Short

14 October 2016, EUR/USD

Remain Short

Wave Analysis

Instead of going short as previously forecasted, the pair retraced to the upper side but could not go beyond $1.1078, while there are chances Euro could retrace further to the upper side, the probability of continuing to the lower side are equally very high. We are waiting for a clear breakout below $1.098 to give us the green light to continue short, any clear progression above $1.1078 will culminate into a possible momentum to the upper side. This pair should have an exact opposite price action with USD/CHF and USD/JPY.

Trade Recommendations:

Wait for a clear breakout below $1.098 to go short with an ideal target at $1.091

Graham Osano
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