Rebuy the impulsive wave (5) at 1.2149 | 30 March 2018

30 March 2018, EUR/USD

Rebuy the impulsive wave (5) at 1.2149

Wave Analysis:

Euro continues to decline in value but still above a key daily support level 1.2149. We expect the downward rally seen yesterday to be a corrective phase of the larger corrective wave (4) but should not go beyond the daily support level 1.2149, where we'll be looking to buy the next impulsive wave (5) towards 1.3512. Ideally, as long as the price remains above 1.2149, we expect a possible bullish momentum towards 1.3512 or even higher. This view can only be invalidated in case the price breaks below 1.2149, this being the case, we'll expect a bearish price rally towards 1.1490.

Trade Recommendations:

Rebuy the impulsive wave (5) at 1.2149 towards 1.3512

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Bob Stan
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