Short only up to 1.1630 | 05 September 2017

Wave Analysis:

In spite of the previous forecast, euro pullback slightly to the upper side, but is still bearish, at least in the short run. During this intraday, we expect a possible extension of the impulsive wave (a) to the lower side but should not go beyond 1.1876. If you're a bit skeptic to short this pair, you could wait for the corrective wave (b) to end then sell the impulsive wave (c) with an ideal target at 1.1630. On the other hand, you could wait and buy euro after the end of the current three wave cycle around 1.1630. This pair will have a similar price action during this intraday. Only buy or sell euro if the following pairs are giving the same signal, GBPUSD, GBPNZD, EURAUD and EURCAD.

Trade Recommendations:

Remain short only up to 1.1630.