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Expect corrections any time from now

Expect corrections any time from now | 17 May 2017

17 May 2017, EUR/USD

Expect corrections any time

Wave Analysis:

As previously forecasted, euro traded relentlessly to the upper side but is yet to hit our target at 1.12976. We expect minor corrections to the lower side to begin the next phase of this upward rally at the lowest risk possible. At the moment, this pair is pretty much bullish and selling or holding onto a sell position on this pair may not necessarily be the best option unless the price gets below 1.08649. The anticipated upward rally is the continuation of the impulsive wave (v) but should not go beyond 1.12974. Expect a similar wave count in GBPUSD, AUDUSD and NZDUSD. These pairs will have a similar wave count during this intraday.

Trade Recommendations:

Expect a possible bullish price movements towards 1.12976.

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Bob Stan
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