Wave Analysis
During the previous trading day, both the impulsive waves (c) and v extended significantly to the lower side and are still pretty much bearish both on the intraday and the weekly charts. As long as the price remains below 1.17430, we expect a possible momentum to the lower side and should break below 1.15860 towards 1.14. If you’re not already in shot position, you could wait for a pullback towards 1.17430 to pick a second short position with an ultimate target at 1.1454. At the moment, we can only advice looking for short position.
Trade Recommendation:
Resell euro around 1.17430 with your target at 1.1452
Origin: FreshForex
