EUR/USD Forecast: bearish price rally is the continuation of the impulsive wave

news_22_feb_dollar_usdWave Analysis

Euro is currently trading with an increasing bearish bias momentum. Following the bounce from the zone 1.15069-1.14656, this pair gained an active momentum to the lowerside, we’re waiting for a break below 1.12780 to confirm that we’re short with our next target at 1.05616. The anticipated bearish price rally is the continuation of the impulsive wave (5) to the lowerside and should first break below 1.12780, before a move towards 1.11555 is seen with the next ideal target at 1.07845. If these lines are breached, then further momentum even lower is expected.

Trade Recommendations:

Resell euro below 1.12780 with an ultimate target at 1.05616.

Resell euro below 1.12780 with an ultimate target at 1.05616.

Origin: FreshForex

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