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Expect a possible bearish price rally towards 1.1673

Expect a possible bearish price rally towards 1.1673 | 19 December 2017

19 December 2017, EUR/USD

Expect a possible bearish price rally towards 1.1673

Wave Analysis:

During the previous trading day, nothing significant was witnessed in line with the previous forecast. Nonetheless, we still expect a possible bearish price movements to the lower side with the first target at 1.1673 and the next at 1.1120. According to the daily chart above, we expect a slight correction to the upper side, then a spike to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side but should have an ultimate target fixed at 1.1120. This pair should be traded alongside GBPUSD, NZDUSD, AUDUSD, EURHKD and EURSGD. These pairs have a strong positive correlation and will likely move in the same direction during this trading day.

Trade Recommendations:

Expect a possible bearish price rally towards 1.1673 and the next target at 1.1120

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Bob Stan
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