After a slight pullback to the lower side, euro recovered upwards and is still pretty much bullish both on the daily and weekly charts. As we mentioned previously, as long as the price remains above the supportive zone 1.1602-1.1455, we expect a possible momentum to the upper side. The anticipated bullish price rally is the unfolding of an impulsive five wave cycle but should first breakout above 1.2005 before a clear move towards 1.2444 is seen. Should the price break below 1.1455, then I’ll expect a rally to the lower side.
We’re long towards 1.2444