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We're short with our target at 1.1673.

We're short with our target at 1.1673. | 04 January 2018

04 January 2018, EUR/USD

We're short with our target at 1.1673.

Wave Analysis:

Perfectly as previously forecasted, the corrective wave (b) ended perfectly around 1.2064. We expect this halt to have marked a possible double top formation around this level and that we're heading short. Today and possibly for the rest of this month, we expect a possible bearish price movements towards 1.1673. The anticipated bullish price movements is the continuation of the impulsive wave (c) to the lower side and should be extensive in nature but must not go beyond 1.1120. This pair should be traded alongside EURAUD, EURHKD, EURCHF and GBPUSD. These pairs have a strong positive correlation of up to +71% and will move in the same direction during this intraday.

Trade Recommendations:

We're short with our target at 1.1673.

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Bob Stan
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