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Wait for a pullback towards 1.2425

Wait for a pullback towards 1.2425 | 27 March 2018

27 March 2018, EUR/USD

Wait for a pullback towards 1.2425

Wave Analysis:

During the previous trading day, the euro breached a key daily resistance level 1.2420 and is still pretty much above this level. This is a bullish sign, and along as the price remains above this zone, we expect a possible bullish price rally and should go beyond 1.25285 towards 1.35. This pair should be traded alongside EURHKD, EURCHF, EURAUD and EURNZD. These pairs have a strong positive correlation of up to +63% and will move in the same direction today Only buy or sell euro if the other positively correlated pairs are giving the same signal.

Trade Recommendation:

Wait for a pullback towards 1.2425 to buy euro towards 1.35

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Bob Stan
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