Wave Analysis:
Instead of continuing to the upperside, Euro pulled back drastically but is still above the weekly supportive zone 1.35945-1.14595. As long as the price remains above this zone, we expect a possible momentum to the upperside. The anticipated bullish price rally will be the unfolding of an impulsive five wave cycle and should break above 1.24545. This view can only be invalidated in case the price breaks below 1.35945, and even then, we’ll wait for another break below 1.34595 to confirm further momentum to the lowerside.
Trade Recommendations:
We’re long
Origin: FreshForex
