06 March 2018, EUR/USD
Wave Analysis:
Perfectly as previously forecasted, the corrective wave (4) rebounded from the supportive zone 1.2240-1.2184 and is still pretty much bullish both on the daily and the weekly charts. We expect a possible bullish momentum towards 1.2890 or even higher.The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side and should first break above 1.2590 before a rally to the upper side is seen. This view can only be rendered futile in case the price breaks below 1.2240, this being the case, we'll be waiting for a second break below 1.2184 to confirm a bearish rally towards 1.1535.
Trade Recommendation:
Remain long with an ultimate traget at 1.2890
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