Wave Analysis
Yesterday, euro continued slightly to the lowerside and is still pretty much bearish both on the daily and the weekly charts. As we mentioned in our previous forecasts, while price is below the upper trendline and also below 1.12630, we’re looking for long term sell orders towards 1.11055. Any clear breach below this level will mean we’re pushing the price even further to the lowerside with the next ideal target being at 1.10. The anticipated bearish price rally is the unfolding of an impulsive wave count and should see the current impulsive wave 3 break below 1.11055 further to the lowerside.
Trade Recommendations:
We’re looking for sell orders towards 1.11055.
Origin: FreshForex
