Wave Analysis:
EUR/USD is currently trading with a slight bullish bias. Yesterday, wave (c) traded perfectly short as previously forecasted but is yet to reach our target support level 1.1142. We expect the current upward rally to be a mere retracement and should not close above 1.1244 from where we’ll be looking to continue with wave (c) towards 1.1142. This pair should be traded alongside NZD/USD, AUD/USD and GBP/USD. These pairs have a strong positive correlation of up to +0.95 and will have a similar price action during this intraday.
Trade Recommendations:
Wait for the current upward pullback to end around 1.1244, then go short with your target at 1.1142.
Origin: FreshForex
