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Expect correction anytime

Expect correction anytime | 03 July 2017

03 July 2017, EUR/USD

Expect correction anytime

Wave Analysis:

For almost a week, this pair has rose relentlessly but is currently slightly below a key monthly short term resistance level 1.1571. We expect a possible break above this level to push the price further upwards . The anticipated upward rally is the continuation of the impulsive wave (v) but should not go beyond 1.1973. At the moment, we're waiting for minor pullback to long this pair at the least risk. We expect a similar price rally in GBPUSD, AUDUSD, and NZDUSD. These pairs have a strong positive correlation of up to +85% and will move in the same direction during this intraday. Only buy or sell Euro if the other pairs are giving the same signal.
Trade Recommendation:
Expect correction anytime

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Bob Stan
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