Perfectly as previously forecasted, the corrective wave (iv) pulled lower but could not extend below 1.1142. We expect the level 1.1142 to have marked the end of this corrective move, that the current bullish price rally is the continuation of the impulsive wave (v) to the upper side but should not go beyond 1.1395. This pair should be traded alongside GBPUSD, AUDUSD, NZDUSD and EURHKD. These pairs have a strong positive correlation of up to +85% and will move in the same direction during this intraday. Only buy or sell Euro if the other positively correlated pairs are giving the same signal.
Expect a possible bullish price movements towards 1.1395
Margin Trading in the Forex market contains risks and can cause in significant financial losses. Before deciding to trade in the foreign exchange market, make sure that you understand the risks according to your financial experience and knowledge.