Wave Analysis
Euro is currently rallying within a rising channel formation, As long as the price remains within this channel formation, we’re only interested in trading reversals. . Currently as it is on the hourly chart attached, we’re waiting for a clear rebound from the upper trend line to pick a long term short position with an ultimate target along the lower trendline. The anticipated bearish price rally is the unfolding of a corrective wave count to the lowerside and should not break below the supportive trendline. However, should this level be broken, then further bearish price rally is expected.
Trade recommendations:
we’re short from the upper trendline
Origin: FreshForex
