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Still correcting itself upwards

Still correcting itself upwards | 15 November 2017

15 November 2017, EUR/USD

Still correcting itself upwards

Wave Analysis:

During the previous trading day, euro rose slightly to the upper side and is still pretty much bullish both on the daily and the weekly charts. During this trading day, we expect a possible bullish price movements towards 1.1864 and should not go higher. The anticipated bullish price rally is the continuation of the corrective wave (b) and should not go beyond 1.1864 where we'll be looking to sell the impulsive wave (c) with our target at 1.1120. This pair should be traded alongside GBPAUD, NZDUSD, and GBPCAD. These pairs have a strong positive correlation and will move in the same direction today.

Trade Recommendations:

Wait and sell the impulsive wave (c) around 1.1864 with your target at 1.1120

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Bob Stan
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