Wave analysis:
During the previous trading day, the impulsive wave (5) traded rapidly to the lowerside and even went below the supportive trendline. As long as the price is contained below this level, we expect a possible momentum further to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (5) and should breakout below 1.26 but should not go lower than 1.25. This is not to say that a break below 1.25 is impossible but should the price get below 1.25, than an acceleration towards 1.10 or even lower is expected.
Trade Recommendation
we’re short
Origin: FreshForex
