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Waiting for a clear break above 1.0770 to rebuy the green bar

Waiting for a clear break above 1.0770 to rebuy the green bar | 20 March 2017

20 March 2017, EUR/USD

Waiting for a clear break above 1.0770 to rebuy the green bar
Wave Analysis:
Despite the bullish engulfing candle that opened above 1.0715 on 16th, Euro is still reluctant to continue long. Instead, it pull-back to the lower side and is currently stalling above 1.07306. This is a key pivot level and unless its broken by a big red candle, we choose to be very pessimistic about price going below it. Rather, we'll remain flat monetarily and wait for a clear break above 1.0770 to go long with an ideal target at 1.08153. Any clear breach below 1.07347 may invalidate the anticipated bullish price movements and could push the price to the lower side but should not go beyond 1.07015. Expect a similar wave count in GBPUSD and NZDUSD. These pairs will have a similar price action during this intraday. Only by or sell Euro if the other pairs are giving the same signal

Trade Recommendations.

Expect a possible break above 1.0770 to go long with an ideal target at 1.081

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Bob Stan
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