Wave Analysis
During the previous trading day, Euro pulled back to the lower side and is still showing signs of heading even further to the lower side. As long as the price remains below 1.13970, we expect a steep decline towards the lower side supportive trend line, ideally, we’re waiting for a clear break below 1.12890 to confirm that we’re short with the impulsive wave (c) towards 1.06450 and may head even lower towards 1.04040. If you’re not in any position at the moment, you could wait for a correction to pick a long term short position.
Trade Recommendation:
Re-sell Euro from 1.13890 with an ultimate take profit at 1.04040.
Origin: FreshForex
