Bulls preparing to take control | 10 May 2017

10 May 2017, EUR/USD

Bulls preparing to take control

Wave Analysis:

As previously forecasted, the corrective wave (iv) extended a bit lower but could not go below 1.08649. For the rebound from this level, we expect a possible bullish wave count towards 1.10532 or even higher. That aside, we expect the level 1.08649 to have marked the end of the previous day's correction that the current upward rally is the unfolding of the impulsive wave (v) and should extend above 1.010532. This view can only be invalidated in case the pair end up below 1.08649, if this should be the case then we expect a possible momentum towards 1.05867. Expect a similar wave count in GBPUSD and an opposite wave count in USDCHF.

Trade Recommendations:

Expect a possible bullish price movements towards 1.10532.

FreshForex cancels commissions!

Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus