Wave Analysis
Euro spiked to the lowerside and is still pretty much bearish. As long as the price remains below the upper trendline and also below 1.12941, we expect nothing but a possible steep decline towards 1.04956. The idea is to wait for a slight retracement back to the upperside to pick a low risk sell order. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should break below the recent lowest low towards 1.04356. A move back towards 1.1293 may push price higher to 1.14726.
Trade Recommendations:
Look for a sell order from 1.12282 with your take profit at 1.04956.
Origin: FreshForex
