Supposedly, the fourth wave of senior level iv, which is currently zigzag-shaped, is completed. Apparently, a counter-trend wedge in a form of first wave of junior level i of (i) has formed locally. If the presumption is correct, the pair may logically resume rising to the levels 1.1200–1.1465 after a local correction. The level 1.0814 is critical in this scenario.
Buy the pair from corrections above the level of 1.0814 with targets at 1.1200–1.1465.
Breakout and consolidation below the level of 1.0814 will enable the pair to continue dropping to the levels 1.0700–1.0600 within the fifth wave of a bearish impetus.
February 28, 2017 Markets await Trump's State of the Union speech
The currency markets are likely to stay flat ahead of President Trump's State of the Union Address to the Congress later this evening, in anticipation that the President will unveil his proposed tax reforms plans and also talk about the infrastructure spending...
February 28, 2017 Oil prices recovered back
Oil prices rebounded from the oversold zone in the Asian session. Sellers failed to regain 55.50 and gave the way to buyers. Buyers took a chance and had reversed all Friday' losses by the Monday's noon...
February 27, 2017 EURUSD dropping perfectly, remain bearish
Price is dropping nicely towards our profit target. We remain bearish below 1.0604 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a further push down to 1.0494 (Fibonacci extension, horizontal support)...
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