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Expect a possible bullish wave count towards 1.11372

Expect a possible bullish wave count towards 1.11372 | 05 May 2017

05 May 2017, EUR/USD

Expect a possible bullish wave count towards 1.11372

Wave Analysis:

The impulsive wave (v) traded long as previously forecasted but is yet to hit our target take profit at 1.11372. During this intraday, we still expect further bullish wave count towards 1.11372 or even higher. Ideally, as long as the pair remains above 1.08649, we expect a possible bullish momentum. This view can only be invalidated in case the pair end up breaking below 1.08649, if this is the case, then we expect an acceleration towards 1.05867. Expect a similar wave count in GBPUSD, EURHKD, and GBPNZD. These pairs have a strong positive correlation of up to +89% and will move in the same direction during this intraday.

Trade Recommendations:

Expect a possible bullish wave count towards 1.11372.

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Bob Stan
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