Wave Analysis
Yesterday, the pair rose from $1.2139 to $1.2253. The previous day’s candle is a strong bullish candle and will likely push the price further to the upper side towards the short term resistance zone. The anticipated upward rally should be the continuation of the impulsive wave E towards $1.2438 or even higher. We expect an exact similar impulsive wave count in EUR/USD and EUR/AUD. These pairs have a strong positive correlation of up to +86% and will have a similar price action during this intraday.
Trade Recommendations:
Remain long with an ideal target at 1.2438
Origin: FreshForex
