Expect a rise towards 1.2095 | 28 Noviembre 2017

Wave Analysis:

Just as in the cable, euro is still consolidating around its Friday's closing price but should rise first towards 1.2095 before we see a reversal. That said, today, we expect a possible bullish price movements towards 1.2095, where we'll be looking for a possible sell trade. The anticipated sell position should be a bearish impulsive five wave cycle but should not go beyond 1.1120. Temporarily, we expect a rise towards 1.2095, then an acceleration from this level to go short. This pair should be traded alongside EURAUD, AUDUSD, NZDUSD, EURCHF and EURNZD. These pairs have a strong positive correlation and will move in the same direction during this intraday.

Trade Recommendation:

Expect a rise towards 1.2095