Wave Analysis:
After euro failed to sustain the break below 1.1469-1.1602, euro pulled back upwards and is now above the same zone. As long as the price is contained above this level, we expect nothing but a possible momentum to the upper side. The anticipated bullish price rally is the continuation of the impulsive wave (C) to the upper side and should break above 1.2200. If this is the case, then further bullish price rally towards 1.2560. Only a clear break below 1.1602 may attract a short position, and even then, we’ll wait for another break below 1.1469 to confirm that we’re short.
Trade Recommendations:
As long as the price is above 1.1602, we expect a rally upwards.
Origin: FreshForex
