Wave Analysis
The previous day’s rally saw euro close as a bearish pin bar. However, on the 4 hour chart attached, we’re likely to see a momentum to the upperside. Thus, while there’s an active sell on the daily chart, we’re actually waiting for price to rise above the upper trendline to pick a low risk buy position. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside and should breakout above 1.13565 towards 1.14340 or even higher. This view can only be invalidated in case the price breaks below 1.12540.
Trade Recommendations:
We’re looking for low risk buy positions
Origin: FreshForex
