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EURUSD: Wave Analysis For May 06, 2015

Rexor Investments

Posted on May 6, 2015 09:35

EURO getting stronger against the US dollar since last two consecutive days, strong bullish sentiments is founded above the price area 1.1158. It seems that today this pair will try to cross the high of previous week 1.1289; if this assumption is true then the next acceptable target would be 1.1492.

As per wave analysis, this pair is trying its beat to cross 1.1292 level because the 4th (d) corrective wave has been completed and the 5th wave E is extending itself in graph h4.
Furthermore Ichimoku cloud analysis is also bullish in h1 as well in h4 graph. Tenken sen and kijun sen are acting as a strong support for this pair in daily graph.

Source: https://www.rinvestments.com/forex-forecast/eurusd-wave-analysis-for-may-06-2015.html
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