The cable in a corrective mode | 22 3月 2017

22 3月 2017, GBP/USD

The cable in a corrective mode

Wave Analysis

As previously forecasted, following the end of the corrective wave (4) around 1.23545, the impulsive wave (5) traded massively to the upper side and even broke above a key pivot level 1.24190. After this breakout, the pair continued long but is currently retracing to the lower side; but not with the same momentum with which it rose yesterday. We expect the current bearish price rally to be a mere retracement and should not go beyond 1.2473 from where we'll be looking to re-buy the impulsive wave (5) with our previous target still intact at 1.2725. Expect an exact opposite price action in USDCHF and USDJPY and CADJPY, these pairs will move in opposite price action during this intraday.

Trade Recommendations:

If you're not long already, wait for minor bearish pullbacks to go long with an ideal target at 1.2725.

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.
manager photo manager photo
Online-support
我们很高兴回答您的问题

提交申请

Get bonus