Wave Analysis:
After breaking below the support zone 1.12105-1.2028, euro is yet to pullback to the upperside towards the same zone, as long as the price remains below this zone, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should breakout below 1.11795. The idea is not to look for sell orders now, but wait for retracement back to the same zone will mean we’re looking for long term sell orders from this zone.
Trade Recommendations:
Place a pending sell limit order at 1.12105.
Origin: FreshForex
