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Flat | 29 November 2017

29 November 2017, EUR/USD

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Wave Analysis:

During the previous trading day, euro pullback a bit lower than expected and is currently below the level 1.1862. This is a possible bearish dominance signal, and means that we could be short for the day. Thus, as long as the price remains below 1.1862, We expect a possible bearish price rally towards 1.1655 or even lower. Conservative traders should wait for a minor pullback towards 1.1862, then expect a plunge towards 1.1655 and the next target at 1.1120. If the price should get back above 1.1862, then we expect a rise towards 1.2095 or even much higher. This pair is to be traded alongside EURAUD, EURCAD and EURHKD. These pairs have a strong positive correlation and will have a similar price action today.

Trade Recommendation:

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Bob Stan
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