Wave Analysis:
Since the previous day’s forecast, euro has not made any significant move to the upper side. We still expect an extension of the impulsive wave (5) to the upper side, but should first break above 1.2470, this being the case, we’ll be expecting a momentum towards 1.2965. As long as the price is above 1.2149, the anticipated bullish price movements is highly expect, however, any clear movements to the lowe side, especially below 1.2149 will push the price to the lower side towards 1.1650 or even lower. This pair should be traded alongside EURHKD, EURAUD, and NZDUSD. These pairs will have a similar price action today.
Trade Recommendation:
Remain long towards 1.2965
Origin: FreshForex
