We're short | 28 Octubre 2016
28 Octubre 2016, EUR/USD
Wave Analysis:
As previously forecasted, Euro rose earlier yesterday, but ended up closing below its opening price. The previous day’s candle is an exhaustion candle around a key pivot level $1.0907. We expect this level to have marked the end of the corrective wave (4), that the current downward rally is the unfolding of the impulsive wave (5) towards $1.0710 or even lower. This view can only be rendered futile in case of a bullish spike above the previous day’s highest high $1.0943. Expect an exact opposite price action in USD/CHF and USD/JPY.
Trade Recommendations:
Remain short with an ideal target at 1.07106
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.
