08 Septiembre 2017, EUR/USD
Wave Analysis:
Despite our anticipation that euro could correct itself downwards, the impulsive wave (5) traded on the higher ranges and is still pretty much bullish both on the daily and weekly charts. Following the rise above 1.1918, we expect further bullish momentum towards 1.2476, and even a breakout above. This view can only be invalidated in case the price goes below 1.1918 and more significantly below 1.1714, a break below 1.1714 will push the price to the lower side but should not go beyond 1.1465. This pair will have a similar price action to GBPUSD, AUDUSD and NZDUSD. These pairs have a strong correlation of up to +78% and will move in the same direction during this intraday.
Trade Recommendations:
We're still long towards 1.2476.
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