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Looking to re-buy the green bar

Looking to re-buy the green bar | 24 February 2017

24 February 2017, EUR/USD

Looking to re-buy the green bar

Wave Analysis:

As expected, the Euro pullback a bit higher and even closed above 1.05725. As long as the price remains above this level, we expect an acceleration to the upper side towards 1.07692 or even higher. Although this upward rally is highly anticipated, we're only be interested in clear buy signals above 1.05942, any clear retracements below 1.052 may invalidate the anticipated upward rally and could push the price to the lower side towards 1.0483 or even lower 1.04108. This pair should be traded alongside GBPUSD, NZDUSD and AUDUSD. These pairs have a strong positive correlation of up to +89% and will have a similar price action during this intraday.

Trade Recommendations:

Expect a possible bullish price movements towards 1.07552.

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Bob Stan
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