Wave Analysis:
Despite the previous forecasts that this pair could rally intensely to the upper side, eurp continues to loose value but is still above the weekly supportive zone 1.16067-1.14595. As long as the price is contained above this zone, we expect a possible rally to the upperside. Ideally, we expect the rebound from this support to have marked an end to the previous corrective three wave cycle, that as long as the price remains above this zone, we expect a possible momentum to the upperside.
Trade Recommendation.
Look for a buy position now towards 1.23210.
Origin: FreshForex
