Wait for a breakout above 1.1237 | 02 Juni 2017
02 Juni 2017, EUR/USD
Wave Analysis
Instead of continuation long as previously forecasted, the impulsive wave (v) traded slightly to the upper side but could not break above the end of the third impulsive wave (iii), 1.1237. We're waiting for a clear breakout above 1.1237 to confirm the continuation of the impulsive wave (v) to the upper side but should not go beyond 1.1398. Expect a similar wave count in GBPUSD and AUDSD. These pairs have a strong positive correlation of up to +71% and will move in the same direction during this intraday.Expect a possible rally towards 1.3498.
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.
