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Expect a rejection from 1.06768 to go short with an ideal target at 1.06194.

Expect a rejection from 1.06768 to go short with an ideal target at 1.06194. | 06 April 2017

06 April 2017, EUR/USD

Expect a rejection from 1.06768 to go short with an ideal target at 1.06194.

Wave Anaysis:

Instead of going short as previously forecasted, Euro retraced to the upper side and is currently rallying around a key retracement level 1.06768. We executed a sell position from this level and is still holding onto this position.Our expectations is for price to rebound from this level perfectly so that we can pick further sell orders with our first target at 1.06194 and the next target at 1.06017. The anticipated bearish price rally is the continuation of the continuation of the impulsive wave (c) and may be extensive in nature. This pair should be traded alongside GBPUSD, AUDUSD and NZDUSD. These pairs will have a similar price action during this intraday.

Trade Recommendations:

Expect a possible rebound from 1.06768 to go short with an ideal target at 1.06194.

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Bob Stan
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