Wave Analysis
Instead of rallying to the lower side, euro pulled back upwards and is still showing signs of continuing to the upper side. We expect this upward rally to be a mere correction and should rise above 1.1505 towards 1.1746. If this last target is broken, then further momentum even higher is expected. And on the bears side, only a break below 1.1335 will attract a short position. The anticipated bearish price rally is the continuation of the impulsive wave (v) and should break below 1.1080 towards 1.04 or even lower.
Trade Recommendations:
We’re long temporarily.
Origin: FreshForex
