Presumably, the fifth wave within a counter-trend wedge continues to develop. By all appearances, the first wave of junior level (i) of v and its correction have finished developing. If this assumption is correct and the price does not break the critical level 1.1184, it's logical to expect the pair to continue rising to the levels 1.1600-1.1700.
Buy the pair from corrections above a level of 1.1184 with a target at 1.1600-1.1700. Sell the pair with a target at 1.1100-1.1000 in case the level 1.1184 is broken.
Breakout and consolidation below the level of 1.1184 will allow the pair to continue declining to the levels 1.1100-1.1000 within the wave (ii).
October 24, 2016 Dollar at a 3-week winning streak
The US dollar completed three weeks of back to back gains with the US dollar index seen trading above the 98.55 handle. Without any pullback so far, further upside could come at a significant risk...
October 24, 2016 Golden week for dollar but USD/JPY bucks trend
It has been a very good week for the US dollar and a really bad one for the euro and Canadian dollar, among others. The rally has lifted the Dollar Index to its highest level since early February and possibly on course to 100...
October 21, 2016 EUR/USD remained unchanged after the ECB
The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart...
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.