Wave Analysis
So far, nothing much has happened on this pair, euro is still active to the lowerside. We expect the previous day’s move to the upperside to be a mere correction and should not go above 1.14189-1.13761. As long as the price remains below this level, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (c) and should head straight towards 1.11 or even lower. As it is, looking for a buy on this pair looks risky and cannot be recommended.
Trade Recommendation:
Wait for a sell around 1.134 towards 1.11.
Origin: FreshForex
