EURUSD Still to trade on the lower ranges | 31 أغسطس 2016
31 أغسطس 2016, EUR/USD
Wave Analysis
Yesterday the pair traded massively short as previously forecasted and is still pretty much bearish on the the daily chart. During this intraday, we expect to continue short with the impulsive wave 5 to the lower side. The current downward rally on the 4hour chart is the unfolding of the anticipated wave 5, and may close below 1.1073. Expect a similar impulsive wave in other positively correlated pairs such as GBP/USD and AUD/USD. These pairs have a strong positive correlation of up to +0.91 and will have a similar price action.
Trade Recommendations:
Remain short with an ideal target at 1.1079,
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
