We're still long | 05 Juni 2017

Following the rebound from the support level 1.2777, we expect a possible momentum to the upper side but should not go beyond 1.33. Ideally, as long as the this support is not violated to the lower side, we expect further momentum to the upper side, the anticipated upward rally is the extension of the impulsive wave (c) to the upper side but should not go beyond 1.33. A clear violation of the support level 1.2777 may invalidate the anticipated upward rally and push the price to the lower side with an ideal target at 1.2444. Expect a similar wave count in AUDUSD, GBPCAD and EURUSD. These pairs have a strong positive correlation of up to +85% and will move in the same direction during this intraday.

Expect a possible bullish price movements towards 1.33