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Expect corrections anytime from now

Expect corrections anytime from now | 19 July 2017

19 July 2017, EUR/USD

Expect corrections anytime from now

Wave Analysis:

Perfectly as previously forecasted, the impulsive wave (v) extended higher following the bullish pin bar seen on Monday beginning of this week and is still bullish both on the daily and the weekly charts. We're expecting any bearish corrections anytime from now, the anticipated bearish correction should not extend below 1.14656 from where we'll be looking to re-buy the impulsive wave (v) at the least risk possible. This view can only be rendered futile in case the anticipated bearish correction end up below 1.14656 and most importantly below 1.12819. If this should be the case, then an acceleration to the lower side is inevitable. Trade this pair alongside NZDUSD, AUDUSD, GBPUSD and EURAUD. These pairs have a strong positive correlation of up to +68% and will move in the same direction during this intraday.

Trade Recommendations:

Wait for minor corrections to the lowterside to rebuy this pair towards 1.15.

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Bob Stan
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