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Buyeurusd

EUR/USD. 1.1345 in focus.As expected, EUR/USD is correcting after last week's rise. The correction is rather sluggish (it’s adds more confidence in the growth continuation). The levels 1.1330-45 and 1.1250-60, expected by us, remain unreached. We believe, that we have a fairly clear picture of a 3-wave correction. Wave B did not quite reach the classic level 0.618 of wave A 1.14504 and now wave C is expected. The Fibonacci extension 1.618 of wave A 1.13424 closely coincides with the correction level 0.382 of the growth impulse 1.11214-1.14837 28.01-04.02 1.13453, and the extension 2.618 1.12551 coincides with the correction level 0.618 1.12598 of the same impulse. The technical analysis oscillators we use, having left the overbought zones, are neutral now. How to trade. In the presence of opened short positions, which we considered risky, close them whole or partially at the levels of 1.1345-50. In case of partial closing, use a floating stop-loss to close trades and, if the downward movement will continue, close completely at levels 1.2550-60 or with oscillators buy signals on the M15, H1 charts. If there are buy signals on oscillators, open long positions with the target at 1.1600 and stop-loss below the correction's low.
by ForbesRatingN1