Remain long with your target at 1.2105 | 27 November 2017
27 November 2017, EUR/USD
Wave Analysis:
During the previous trading day, euro traded with an increasing bullish momentum and even broke above the daily resistance level 1.1862. This is a bullish dominance scenario, and as long as the price remains above 1.1862, we expect the level 1.1655 to have marked the end of the recent corrective three wave cycle that the current bullish price rally is the continuation of the previous five wave cycle to the upper side and should breakout above 1.2105. This pair should be traded alongside GBPUSD, GBPAUD, and NZDUSD. These pairs have a strong positive correlation and will move in the same direction today.
Trade Recommendations:
Remain long with your target at 1.2105
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.
