22 2月 2017, EUR/USD
Wave Analysis:
As previously forecasted, Euro fell to the lower side but is currently stalling around a key weekly support at 1.0534. Unless, there's a clear break below this level, we choose to remain flat momentarily and buy upon a clear rebound from this level. A break below 1.0511 will mean we're headed further to the lower side towards 1.0459 but should not go beyond 1.0385. Ideally, a rebound from this level will culminate into a possible impulsive bullish wave count towards 1.0710 or even higher. As long as we're flat in this pair, we choose to remain flat also in USDJPY, and USDCHF. These pairs have a strong negative correlation of up to -87% with the euro and will move in opposite directions during this intrady.
Trade Recommendations:
As long as the level 1.0534 protects the lower side, look for potential buy positions with an ideal target at 1.0710. Sell positions will only be ideal below 1.0528 with an ideal target at 1.0460.
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