Temperate Correction is coming soon

FX:EURUSD   Euro / U.S. Dollar
The economic data released recent days supports FED's opinion on keeping patience to further tighten monetary policy , which weakens Dollar. The rebound have been maintaining for 4 days since last Friday, non-farm payroll is released. Meanwhile, the MP ruled out the no-deal Brexit on yesterday's voting. It decreased the risk and support Euro . However, Euro has completed the fifth wave and is still suppressed by the key resistance at 1.1345, the down trend from 1.1570 on daily chart . Thus, it's likely to test this resistance again today. If it fails, a temperate correction is confirmed to come soon.The target should be seen to 1.1300, further decline should be seen to .11270, the 38.2% retracement of 1.1180 to 1.1420. On the upside, though, break of 1.1345 will turn focus back to 1.1370 and 1.1400 resistance next.

The target is 1.1270.
Turning point: 1.1345.
Under 1.1345, bearish , target price is set at 1.1300, then 1.1270.
Above 1.1345, bullish , target price is 1.1370,then 1.1400.

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Prior Strategy:
Comment: TP1 reached.


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