26 December 2017, EUR/USD
Wave Analysis:
So far, we're not seen any active movements to the lower side as previously forecasted. Instead, euro is correcting itself upwards. We expect the upward rally that dominated the previous week to be mere phases of the corrective wave (b) and should not go beyond 1.2095 where we'll be looking to sell the impulsive wave (C) with the first target at 1.1673 and the next target at 1.1120. The anticipated bearish price can only be anticipated in case the price end up breaking above 1.2095, this being the case, we expect an acceleration towards 1.30. This pair will have a similar price action to EURHKD, EURSGD and EURAUD. These pairs have a strong positive correlation and will move in the same direction.
Trade Recommendation:
Resell euro around 1.2095
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