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Expect a possible bullish price rally towards 1.11379.

Expect a possible bullish price rally towards 1.11379. | 11 May 2017

11 May 2017, EUR/USD

Expect a possible bullish price rally towards 1.11379.

Wave Analysis:

Euro continues to consolidate above 1.08649 despite our expectations to rise towards 1.11379. As long as the level 1.08649 protects any movements to the lower side, we expect a possible bullish price movements towards 1.11379 and could break higher. The anticipated upward rally is the continuation of the impulsive wave (v) but should not go higher than 1.13 during this intraday. This view holds true as long as the price remains above 1.08649, any clear movements below 1.08649 will culminate into a possible bearish wave count towards 1.056 or even lower. Expect a similar wave count in GBPUSD, AUDUSD and EURHKD. These pairs will have a similar price action during this intraday.

Trade Recommendations:

Expect a possible bullish price rally towards 1.11379.

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Bob Stan
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