Wave Analysis
Euro is currently trading within a rising, but converging wedge formation. As long as the price remains within this wedge formation, we expect nothing but a possible momentum to the upperside with an ultimate target at 1.18160. Basically, we’re waiting for a clear breakout above 1.18160 to pick an upward position The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side with an ultimate target at 1.19 and could breakout even higher. You can still look for long positions on this pair but after a retracement.
Trade Recommendations:
We’re long from the supportive trendline.
Origin: FreshForex
