we're short towards 0.7093 | 09 May 2018

Wave Analysis

Earlier today, the corrective three wave cycle extended significantly to the lower side and is still pretty much bearish. We expect the downward rally that dominated earlier today, to be the unfolding of the impulsive wave c and should not go beyond the 4 hour support level 0.7093, if this target is violated, then we expected sellers to continue further to the lower side with the next take profit being 0.5292. If you're not already short, you could buy a rebound from 0.7093, or pick a short position upon a break below 0.7093 towards 0.5292.

Trade Recommendations:

we're short towards 0.7093