Wave Analysis
Recently EUR broke below a key support zone 1.14000-1.156820. After it failed to sustain this break, euro pulled back upwards and is now above 1.15682. since then the price has been rallying above the zone making several rebounds. On 9th of august the price tried to break below the same key zone but the move was countered with a major move to the upper side. This is a bullish dominance sign, nonetheless we still expect a continuation of the impulsive wave (c) in the long run. You could also wait for a breakout above 1.18 to pick an upward position towards 1.22.
Trade Recommendations
Wait for a sell upon a clear break below this zone 1.1400-1.156820.
Origin: FreshForex
