Expect further rally to the upper side. | 07 Juni 2017
07 Juni 2017, EUR/USD
Wave Analysis:
For the past few days, this pair has been consolidating within a tight range; not going above 1.1280 or below 1.1233. As long as this pair remains within this range, we choose remain flat momentarily expecting a possible breakout above this zone to continue long with the last motive wave (v) towards 1.1398 and may extend further but should not go beyond 1.1718. Expect a similar wave count in AUDUSD, NZDUSD and GBPUSD. These pairs have a strong positive correlation of up to +74% and will move in the direction during this intraday.Expect a possible break above 1.1280 to continue long with an ideal target at 1.1398.
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.
