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We're long

We're long | 02 May 2017

02 May 2017, EUR/USD

We're long

Wave Analysis:

As expected, euro retraced to towards 1.08649 after gaping above it during the previous trading week. We expect the level 1.08649 to have marked the end of the corrective wave (iv) that the current upward rally is unfolding of the impulsive wave (v) and should not go beyond 1.11372. As long as the pair remains above 1.0865, we expect a possible bullish price movements. This view can only be rendered futile in case the pair end up below 1.08649. Expect a similar impulsive wave count in GBPUSD and AUDUSD, these pairs will have a similar price action during this intraday.

Trade Recommendations:

Expect a possible bullish price movements towards 1.11372

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Bob Stan
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