Corrections | 12 9月 2017

12 9月 2017, EUR/USD

Corrections

Wave Analysis

Yesterday, we witnessed a possible corrections of the impulsive wave (5), with price rallying merely 75 pips below it's opening price. This pair could possibly be over bought, thus we expect this bearish correction to continue to the lower side but should not go beyond the support level 1.1670. This bearish price is highly anticipated since the intraday stochastic is is almost breaking below its neutrality level of 50 and could accelerate further towards the oversold level of 20. This pair will have a similar price action with GBPUSD, NZDUSD, AUDUSD, and EURHKD. These pairs have a strong positive correlation of up to +63% and will move in the same direction during this intraday.

Trade Recommendatioons:

Expect further corrections with a target at 1.1670.

FreshForex cancels commissions!

Bob Stan
同意该评论吗?
交易员的评论:
Close
授权
您浏览器禁用cookie 文件. 在此情况下, 私人空间显示不正常. 如何启动cookie 文件的支持.