21 сентября 2017, EUR/USD
Wave Analysis:
Few days ago the inner corrective wave (b) extended slightly to the upper side but could not rise beyond 1.1995. We expect the bearish price rally that began few hours ago to be the unfolding of the impulsive wave (c) to the lower side but should not go beyond the daily support level 1.1714, where we'll be looking to re-buy this pair at the least risk possible. If the level 1.1714 is violated, then the price could drop further. At the moment, buy positions are more ideal above 1.2092 with an ultimate target at 1.22 This pair has a strong positive correlation of up to +68% with GBPUSD and will move in the same direction during this intraday. Only buy sell euro if the other positively correlated pairs are giving the same signal.
Trade Recommendations:
Wait for futher bearish corrections towards 1.1714 to buy this pair.
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