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

news_22_feb_4_euro_usdWave Analysis:

During the previous trading day, euro opened at 1.12333 went as high as 1.12632 and low as 1.12212, but ended up closing at 1.1216 few pips below its opening price. The previous day’s candle is a perfect bearish pin bar candle, and as long as the price remains below the previous day’s highest 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 towards 1.04240.

Trade Recommendations:

We’re short now towards 1.04240.

We're short from around 1.13445 towards 1.05570.

Origin: FreshForex

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