Wave Analysis:
Euro is currently trading with an increasing bearish bias momentum. We expect the bounce from the upper trendline to have marked an end to the corrective wave (D) that the current bearish rally is the continuation of the impulsive wave (E) to the lowerside and should breakout below 1.10620 towards 1.09510 or even lower. As it is, only sell positions looks more ideal and can be recommended, but in case the price breakouts above 1.13980, then we’ll wait for a confirmation that we’re upwards with an ultimate target at 1.18450.
Trade Recommendations:
We’re looking for long term sell orders towards 1.10620.
Origin: FreshForex
