Wave Analysis
During the previous trading day, Euro declined lower than expected and is still pretty much bearish both on the lower and the higher time frames. We expect the level 1.2441 to have marked the end of the corrective wave (b) that the current bearish price rally is the continuation of the impulsive wave (c) to the lower side and should break below 1.21920 towards 1.20889. This pair should be traded alongside EURHKD, GBPUSD, NZDUSD and AUDUSD. These pairs have a strong positive correlation and will move in the same direction today.
Trade Recommendations:
Remain short with an ultimate target at 1.20889
Origin: FreshForex
