Wave Analysis:
The previous month’s candle was a perfect bearish pin bar candle. Following the break below 1.29610, we expect further momentum to the lower side towards 1.22157. If you’re not in a sell position from last month, you can still place a pending sell limit around last month’s highest high and your stop loss slightly higher. With this sell position, we expect a possible spike towards the monthly support level 1.22157. And in case of a break to the lowerside, then further momentum lower is expected.
Trade Recommendation.
We’re short towards 1.22157.
Origin: FreshForex
