Wave Analysis:
Since the beginning of this week, euro has been rallying with an increasing bullish momentum despite the previous forecasts that it could loose value. This pair is very bearish on the monthly charts, and therefore the current move to the upper side is a mere correction to the upper side and should not go beyond 1.2498. Long term traders could wait for a rebound from 1.2498 to pick low risk positions while intraday traders could look for long positions towards 1.2498. If you’re not already in a long position, you may still look for long positions now with your target at 1.2498.
Trade Recommendations:
Intraday traders could look for long positions now towards 1.2498.
Origin: FreshForex
