Remain long with your target at 1.33. | 11 Septiembre 2017

Despite our anticipation that the impulsive wave (5) could have ended around 1.3162, this impulsive wave extended to the upper side after a slight pullback and is showing signs it could rise even further to the upper side. During this week, we expect this pair to make fresh weekly highs and could head towards 1.33. The current chart set and structure is pretty much and selling or opening a sell position in this pair may not be the best choice, instead, we’re only interested in long position with an ultimate target at 1.33. This pair should be traded alongside GBPUSD, NZDUSD, AUDUSD and EURHKD. These pairs have a strong positive correlation of up to +62% and will move in the same direction during this intraday.

Remain long with your target at 1.33.