06 октября 2017, EUR/USD
Wave Analysis:
During the previous trading day, the pair retraced back to the level 1.17131 but is still above it. We expect this level to have marked the end of the corrective three wave cycle that the current bullish price candle is the continuation of an impulsive wave to the upper side but should not go beyond 1.20650. As long as this zone remains intact, we expect a possible bullish price rally however, if it is violated, then the price could spike to the lower side. This pair should be traded along GBPUSD, NZDUSD, AUDUSD, EURHKD. These pairs have a strong positive correlation of up to +71% and will move in the same direction during this intraday. Only buy or sell Euro if these pairs are giving the same signal.
Trade Recommendatons:
Expect a possible bullish price rally towards 1.20650
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