07 April 2017, EUR/USD
Wave Analysis:
Following the rejection from 1.06768, the pair rallied to the lower side but is yet to hit our target take profit at 1.06194. As long as the pair remains below 1.06768, we expect to continue short short with the impulsive wave (c) with our first target at 1.06194 and the next target at 1.05050. This downward rally is highly anticipated since the daily, weekly and monthly charts (shown below) are pretty bearish and will move to the lower side.
EURUSD Daily Chart:
EURUSD Weekly Chart:
EURUSD Monthly Chart:
Expect a similar wave count in GBPUSD, NZDUSD, AUDUSD, and EURHKD. These pairs have a strong positive correlation up to +89% and will move in the same direction during this intraday.
Trade Recommendations:
Remain short with the first target at 1.06194 and the next target at 1.05050
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