Wave Analysis
During the previous week, euro spiked intensely to the upperside and is now perfectly above 1.12471. The current month’s rejection from 1.12471 is a possible sign that the corrective wave (b) is ended so that we can buy the last impulsive wave (c) towards the upperside trendline. If this trendline is broken, then further momentum towards 1.22033 is expected. According to the monthly chart attached, only buy positions looks more ideal, but should price close below 1.12471, then this will be an ideal place to look for short orders.
Trade Recommendations:
Rebuy euro from 1.12471 towards 1.22033.
Origin: FreshForex
