Wave Analysis
Instead of rallying to the upperside, euro pulled back slightly but is still above the upper the weekly supportive zone 1.14595-1.16067. As long as the price remains above this zone, we expect a possible momentum to the upperside. Ideally, we expect the rebound from this zone to have marked and end to the previous corrective three wave cycle, that the current rally to the upperside is the unfolding of another impulsive wave to the upper side and may break above 1.23210. We may only consider short positions should the price break below 1.14595.
Trade Recommendations:
We’re still looking for long position towards 1.23210.
Origin: FreshForex
