Expect further rally to the upper side. | 07 June 2017

07 June 2017, EUR/USD

Expect further rally to the upper side.
Wave Analysis:
For the past few days, this pair has been consolidating within a tight range; not going above 1.1280 or below 1.1233. As long as this pair remains within this range, we choose remain flat momentarily expecting a possible breakout above this zone to continue long with the last motive wave (v) towards 1.1398 and may extend further but should not go beyond 1.1718. Expect a similar wave count in AUDUSD, NZDUSD and GBPUSD. These pairs have a strong positive correlation of up to +74% and will move in the direction during this intraday.
Trade Recommendations:

Expect a possible break above 1.1280 to continue long with an ideal target at 1.1398.

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Bob Stan
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