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We're short

15 November 2016, EUR/USD

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We're short

Wave Analysis:

As Previously forecasted Euro fell relentlessly and is still pretty much be bearish on daily chart. We expect further impulsive wave count towards 1.065 and possibly lower. In the mean time we wait for minor retracements towards 1.0876 to give us low risk sell sell opportunities. This view can only be invalidated in case the anticipated pullback end up breaking above $1.0894; if the latter is the case, then an bullish acceleration towards 1.1146 is highly likely. Expect an exact similar wave count in GBP/USD and EUR/USD. These pairs have a strong positive correlation of up to +86% and will have a similar price action during this intraday.

Trade Recommendations:

If you are not short already, wait for minor pullbacks to the upper side to go short with an ideal target below 1.065

Graham Osano
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