EUR/USD Rose to fresh weekly highs 1.1074 | 02 November 2016

Wave Analysis

As previously forecasted, the pair spiked to the upper side and even broke above $1.1038 and is still pretty much bullish on the daily chart and will likely continue long during this intraday. We expect to continue long with both the inner impulsive waves, wave v and the outer wave (5) towards $1.1138 or even higher. Expect an exact similar wave count in GBP/USD and EUR/AUD. These pairs have a strong positive correlation of up to +89% and will have a similar price action during this intraday. Only buy or sell Eur/usd if the other pairs are giving the same signal.

Trade Recommendations:

Remain long with an ideal target at 1.1138.