Wave Analysis:
During the previous trading day, we witnessed a possible correction of the impulsive wave (c) to the upper side but is still below 1.1678. During this intraday, we expect a possible stretch to the upper side but should not go beyond 1.1678 where we’ll be looking to resell the impulsive wave (c) to the lower side but should not go beyond 1.1120 where we expect a possible demand. This pair should be traded alongside CADJPY, AUDJPY, NZDJPY and CHFJPY. These pairs have a strong negative correlation and will move in exact opposite direction today.
Trade Recommendation:
Resell euro around 1.1678 with your target still fixed at 1.1120
Origin: FreshForex
