Wave Analysis
Euro is currently trading within a tight range, not going above the upper trendline or below the lower trendline. Since the overall trend on this pair is downwards, we’re anticipating a possible break below the supportive trendline to pick a long term sell order. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should break below 1.11055 towards 1.055 or even lower. As it is, waiting for a retracement back to the previous week’s opening looks better.
Trade Recommendations:
Wait for a sell around 1.11999.
Origin: FreshForex
