EUR/USD Forecast: waiting for a break below 1.1416

news_22_feb_2_euro_usdWave Analysis

After failing to sustain the break above 1.1450, euro pulled back to the lowerside and is now below the hour resistance level 1.1450, we’re now waiting for a break below 1.1416, as long as the price remains below 1.1450, we’re waiting for another break below 1.1416, to confirm that we’re short towards 1.1306. If this target is broken, then further momentum to the lowerside is expected with an ultimate target at 1.12 is expected. As it is on the daily chart, only a break above 1.1490 will push the price upwards towards 1.1550.

Trade Recommendations:

We’re short below 1.1415.

We're short below 1.1415.

Origin: FreshForex

 

Leave a Reply