Wave Analysis:
Euro is currently trading with an increasing bearish momentum. As long as the price remains below the bearish cloud formation, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and should break below 1.10820, straight towards 1.04240. We expect the current bullish price rally to be the continuation of a corrective wave count but should not go beyond the upper cloud. The idea is to wait for potential sell orders.
Trade Recommendations:
We’re short from around 1.13445 towards 1.05570.
Origin: FreshForex
