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Euro preparing to continue long

Euro preparing to continue long | 01 May 2017

01 May 2017, EUR/USD

Euro preparing to continue long

Wave Analysis:

On the previous trading, Euro rebounded perfectly from the support level 1.08649 and is currently showing signs of rallying to the upper side We expect the level 1.08649 to have marked the end of the corrective wave (iv) that the upward rally that began yesterday is the unfolding of the impulsive wave (v) to the upper side but should not go beyond 1.11372. This view can only be invalidated if the price gets below 1.08649, if this is the case, then an acceleration to the lower side is inevitable.Expect a similar wave count in EURHKD and GBPUSD. these pairs will have a similar wave count during this intraday.
Trade Recommendations:
Expect a possible bullish price movements towards 1.11372

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Bob Stan
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