EUR/USD Forecast: expect a possible impulsive wave count to the upper side

news_22_feb_4_euro_usdWave Analysis

Despite Mondays forecast that this pair could rally to the upper side from Monday, euro continues to correct itself to the lower side but is still above the weekly supportive zone 1.16067-1.14595. As long as this zone protects the lower side, we expect a possible impulsive wave count to the upper side and may breakout above 1.23210 but should not go beyond 1.24910. This view can only be invalidated in case the price breaks below 1.16067, and even then, we’ll be waiting for another break below 1.14595 to confirm further rally to the lower side.

Trade Recommendations:

Remain long towards 1.24910.

Remain long towards 1.24910.

Origin: FreshForex

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