Wave Analysis:
As previous forecasted, the corrective wave (b) continue to retrace to the lower side but is yet to hit our target reversal zone 1.06826-1.06477. We’re waiting for the current corrective rally to rebound from this zone to buy the impulsive wave (c) towards 1.0883 or even higher. Any clear breakout below this zone will culminate into possible bearish price movements towards 1.05858 and possibly lower. Expect a similar wave count in GBP/USD/ EUR/HKD and an exact opposite price action in USD/JPY, AUD/JPY, USD/CHF and NZD/JPY. Only buy or sell Euro if the first pairs giving the same signal while the latter pairs are giving an exact opposite price action.
Trade Recommendations:
Remain short but only up to 1.06826 or wait and sell below 1.06477.
Origin: FreshForex
