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Buy EURUSD at 1.08649

Buy EURUSD at 1.08649 | 04 May 2017

04 May 2017, EUR/USD

Buy EURUSD at 1.08649

Wave Analysis:

Instead of going long as previously forecasted, this pair continues to consolidate above our buy level 1.08649 and is currently at the verge of retracing back to this level. During this intraday, we expect a possible bearish pullbacks towards 1.08649 to pick low risk buy opportunities towards 1.111372. The anticipated upward rally is the continuation of the impulsive wave (v) and my successfully break above 1.11372 towards 1.12. This view can only be invalidate in case the pair end up breaking below 1.08649, if this is the case, then an acceleration towards 1.05867 is anticipated. Expect a similar wave count in GBPUSD, AUDUSD and NZDUSD. These pairs will have a similar price action during this intraday.

Trade Recommendations:

Expect a possible rebound from 1.08649 to go long with an ideal target at 1.11372

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Bob Stan
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