29 September 2017, EUR/USD
Wave Analysis:
For the past six months, the corrective wave (4) continued to rally on the higher ranges but could not go beyond the resistance zone 1.19688-1.17872, if the current monthly candle can close the way it is, then we expect this to be an onset to the impulsive wave (5) to the lower side but should not go beyond 0.99732. On this monthly chart, we're only interested in a massive short order within 1.17688-1.17872, with an ultimate target at 0.97732. This view can only be rendered futile in case the price end up closing above the above zone, if this is the case, then a rally to the upper side will be inevitable. This pair should be traded alongside GBPUSD, and EURHKD. These pairs have a strong positive correlation and will move in the same direction during this intraday.
Trade Recommendations:
Expect a possible bearish price movements towards 0.97732
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