Perfectly as previously forecasted, Euro spiked to the upper side almost 80 pips but could not hit our first target at 1.10532. During the week, we expect a possible minor correction of the impulsive wave (v) and then an extension of this wave to the upper side but should not go beyond 1.10532. A break above this level will push the price further to the upper side with an ultimate target at 1.11433. This view may only be invalidated in case the pair end up below 1.08649, if this is the case, then an acceleration to the lower side is expected. Trade this pair alongside USDCHF, USDJPY and CADJPY. These pairs will have a strong positive correlation of up to +89% and will move in the same direction during this intraday.
Trade Recommendations:
Expect a possible bullish price movements towards 1.10532
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