EUR/USD Forecast: long as the price remains below the cloud

news_22_feb_3_euro_usdWave Analysis:

Perfectly as previously mentioned, this pair has started on its way to the lowerside. As long as the price remains below the cloud shown above, we’re looking for long term sell orders towards the recent lowest low. The idea is to wait for retracement back to the previous day’s opening price to pick a low risk sell order with your stoploss above the previous day’s highest high, and your take profit at 1.04240. Alternatively, you could wait for a break below the this years lowest low to pick a long term sell order.

Trade Recommendations:

We’re short towards 1.04240.

We're short from around 1.13445 towards 1.05570.

Origin: FreshForex

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