Buy Euro around 1.16127. | 23 Agustus 2017

Wave Analysis

After an impulsive wave to the upper side, the impulsive wave (v) only reached the highs of 1.18990 before turning around. We expect the downward rally that began few days ago to be a corrective wave count and may go beyond 1.16127, if this level is broken, then the price could fall further with the next ideal target at 1.13354. The best place to long this pair is either around 1.08649, or 1.13354 or 1.16127, if price can pullback to any of these levels, then these will prove the best places to long this pair. This pair should be traded alongside GBPUSD, AUDUSD and NZDUSD. These pairs have a strong positive correlation and will move in the same direction during this intraday.

Trade Recommendations:

Buy Euro around 1.16127.