Wave Analysis:
Few days ago, after the end of the corrective wave (b) at 1.24655, the impulsive wave (c) extended massively to the lower side and is still pretty much bearish both on the daily and the weekly charts. Following yesterday’s drastic drop in price, we expect further movements to the lower side but should not go beyond 1.20724. This pair should be traded alongside EURHKD, EURAUd and NZDUSD. These pairs have a strong positive correlation of up to +63% and will move in the same direction today.
Trade Recommendations:
Remain short with your target at 1.22724
Origin: FreshForex
