EUR/USD Forecast: long as the price remains below this zone

eu-l14Wave Analysis

Euro is currently bouncing off of a significant 30 minutes resistance zone 1.13432-1.13394. As long as the price remains below this zone, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price price rally should be impulsive in nature and should breakout below the supportive trendline towards 1.12855. This view can only be invalidated in case the price breaks above 1.13432, if this is the case, then a move to the upperside towards 1.14 or even higher is expected.

Trade Recommendations:

Wait for a low risk sell below the supportive trendine

On the sidelines but waiting for  a low risk sell

Origin: FreshForex

Leave a Reply