Wave Analysis:
After breaking below 1.1733, euro rallied just slightly to the lower side, euro corrected itself to the upperside and is now below 1.17333. This is a key level and as long as the price remains below this level, we expect a possible momentum to the lower side. Despite the previous bullish pin bar candles, we expect a possible momentum to the lower-side. The anticipated bearish price rally is the continuation of the impulsive wave © and should break below 1.12515 but should not go beyond 1.06170. This view can only be invalidated in case the price breaks above 1.1733. and even then, we’ll be waiting for a confirmatrion that the price will continue upwards.
Trade Recommendaations:
We’re looking for a sell position below 1.1733 towards 1.12525.
Origin: FreshForex
