Flat | 17 May 2018

Wave Analysis

The corrective three wave count continues to rally within the converging wedge formation but is currently around a key hourly level 0.6796. As long as the price remains within this falling wedge, we expect a momentum to the lower side with our target being 0.5252. This downward rally will highly be made possible should the price break and hold below 0.6796, if this is the case, then we expect a rapid decline towards 0.5252 or even lower. On the hourly chart above, its good to remain flat buy eye a possible break below 0.6490 to confirm a rally to the lower side.

Trade Recommendations:

Flat

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.