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Expect a possible retracement towards 1.07271

Expect a possible retracement towards 1.07271 | 24 April 2017

24 April 2017, EUR/USD

Expect a possible retracement towards 1.07271

Wave Analysis:

For the past few days, Euro have had a slight positive correlation to USDJPY. Earlier today, while USDJPY gaped higher, Euro equally gaped above a daily resistance line 1.08649, as long as the price remains above this key line, we expect a possible bullish price movements towards 1.10. Any clear retracement below 1.08649 will push the price to the lower side especially towards the opening of today's gap. Expect a similar wave count in EURCAD, EURGBP, and AUDUSD. These pairs will have a similar price action during this intraday. Only buy or sell euro if the other positively correlated pairs are giving the same signal.

Trade Recommendations:

As long as a possible bearish retracements towards 1.07271

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Bob Stan
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