Wave Analysis:
During the previous trading week, euro went below a significant weekly support zone 1.1443-1.1562. This was a major breakout and a clear sign that the bears are in full control, as long as the price remains below this zone, we expect a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lower side and should break below 1.0810 but should not go lower than 1.0493 by the end of this week. Conservative traders could wait for retracements to the upperside
Trade Recommendation
We’re short.
Origin: FreshForex
