19 Tháng Chín 2017, EUR/USD
Wave Analysis:
During the previous trading day, the corrective wave (b) extended to the upper side and is still showing signs of extending even further. Today, we expect this correction to continue even further upwards but should not go beyond the initial five wave cycle. If a rally is seen above the end of the impulsive wave (5) then the price could rise even further towards 1.2092 and could extend even further towards 1.23. This upward rally is highly anticipated but only after the end of the corrective three wave cycle at 1.1685. If you're not long already, you could wait for corrections towards 1.1685 to buy this pair with your target at 1.23. This bearish correction is highly anticipated since the intraday stochastic is almost reaching its overbought level of 80 and could rebound to the lower side.
Trade Recommendation:
If you're long already, you could remain long with you target still fixed at 1.23.
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