05 января 2018, EUR/USD
Wave Analysis:
During the previous trading day, euro rose upwards despite the previous day's forecast that it could continue to correct itself downwards. We expect a possible double top formation around 1.2069 to short this pair. The anticipated bearish price rally is the continuation of the impulsive wave (c) with an ideal target at 1.1630 and the next target at 1.1120.. This view can only be invalidated in case the price break above 1.2069, this being the case, we expect a possible bullish price rally towards 1.24. This pair will have a similar price rally to EURAUD, EURHKD and EURMXN. These pairs will have a similar price action today.
Trade Recommendations:
Short euro around 1.2069 with an ultimate target at 1.1120
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