Wave Analysis:
During the previous trading day, euro opened at 1.23336, went as high as 1.2387 and as low as 1.22842 but ended closing at 1.23002, just a couple of pips below its opening price. The previous day’s candle is a perfect bearish pin bar candle and indicates a possible increase in the number of sellers. Thus, as long as the price remains below 1.23324, we expect a possible bearish price rally, the anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and may break below 1.20704. This pair should be traded alongside EURHKD, EURCHF and NZDUSD.
Trade Recommendations:
Short euro now with your target at 1.20704
Origin: FreshForex
