EUR/USD Forecast: long as the price remains within the shape formation

eu-l15Wave Analysis

Euro is still consolidating within the contracting wedge formation. As long as the price remains within the shape formation, we’re only trading reversals, basically, we’re waiting for a bounce from the upper trendline to pick a sell while a bounce from 1.11743 will attract a buy. A break below 1.11743 will mean we’re continuing to the lowerside with an ultimate target at 1.10875 and a break above the upper trendline will push the price further to the upperside towards 1.12470 or even higher.

Trade Recommendations:

Buy a bounce from 1.11743.

Buy a bounce from 1.11743.

Origin: FreshForex

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