EUR/USD Forecast: we’re short with our target at 1.1120

news_22_feb_4_euro_usdWave Analysis:

Perfectly as previously forecasted, the impulsive wave (c) extended slightly to the lower side but is yet to cover even 5 perfect of the expected overall rally. During this intraday, we expect a possible extension of this impulsive wave count to the lower side but should not go beyond the daily support level 1.1120. If you’re a bit skeptic to short this pair now, you could wait for a breakout below 1.1680, to confirm the continuation of the anticipated bearish price rally. This view can only be invalidated in case the price end up breaking above 1.1873, if this is the case, then a rise towards 1.2095, will be the next ideal move. This pair should be traded alongside EURUSD, NZDUSD and AUDUSD. These pairs have a strong positive correlation and will move in the same direction.

Trade Recommendations:

We’re short with our target at 1.1120

We're short with our target at 1.1120

Origin: FreshForex

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