Wave Analysis:
Perfectly as previously forecasted, bears dominated this market but we’re still above the daily supportive zone 1.2240-1.2184. As long as this zone is not broken to the lower side with a big candle, we expect a possible rebound from it to pick a long position with our target at 1.3000. The previous day’s candle was perfect bearish candle and may push the price further to the lower side today and possibly even next week. This downward rally is just a phase of the larger corrective wave (4) and should not go below this support, where we’ll be looking to buy the last impulsive wave (5) towards 1.3000.00.
Trade Recommendation
Still short towards 1.2240
Origin: FreshForex
