Wave Analysis:
For the past few days, this pair could not breakout above the upper resistive trend line, instead, this pair consolidated around this trend line and is showing signs of a possible rebound from this trend line. We’re waiting for a clear sign that this pair could rebound from this level to short. The anticipated short position is the continuation of the impulsive wave (5) and should not go beyond 0.97732. Expect a similar wave count in GBPUSD, NZDUSD, , and AUDUSD. These pairs have a strong positive correlation of up to +85% and will move in the same price action during this intraday. Only buy or sell Euro if the other positively correlated pairs are giving the same signal.
Trade Recommendations:
Expect a possible bearish price rally towards 0.97732
Origin: FreshForex
