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Wait for a breakout above 1.1237

Wait for a breakout above 1.1237 | 02 June 2017

02 June 2017, EUR/USD

Wave Analysis
Instead of continuation long as previously forecasted, the impulsive wave (v) traded slightly to the upper side but could not break above the end of the third impulsive wave (iii), 1.1237. We're waiting for a clear breakout above 1.1237 to confirm the continuation of the impulsive wave (v) to the upper side but should not go beyond 1.1398. Expect a similar wave count in GBPUSD and AUDSD. These pairs have a strong positive correlation of up to +71% and will move in the same direction during this intraday.
Trade recommendations

Expect a possible rally towards 1.3498.

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Bob Stan
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