Wave Analysis
While we were doing the previous day’s forecast, euro broke below the support zone 1.1743-1.1732, but retraced back to it immediately and is still rallying pretty much within this zone. This zone is a good sell zone and as long as it protects the upper side, we expect the price to bounce off from it, to short this pair with an ideal target at 1.1415. This is from a bearish point of view, however, if the price can close above 1.1743, then we’ll be interested in buy positions towards 1.1835. This pair should be traded alongside EURAUD, NZDUSD, AUDUSD and GBPUSD. These tends to have a similar price action and will move in the same direction during this intraday.
Trade Recommendations:
Short euro now within 1.1743-1.1732 with an ideal target at 1.1615.
Origin: FreshForex
