Wave Analysis:
Instead of a rally to the upperside, Euro has been declining in value and is still pretty much bearish on the daily chart. The price however, is still above the weekly supportive zone 1.14595-1.14067. As long as the price is contained above this level, we expect a possible rally to the upperside with an ultimate target at 1.23105. This view will only be reconsidered should the price break below 1.14595, and even then,. we’ll be waiting for another break below 1.14067 to confirm further momentum to the lowerside.
Trade Recommendations:
Wait for a clear buy position
Origin: FreshForex
