Wave Analysis:
During the previous trading week, Euro declined massively and is still pretty much bearish both on the daily and the weekly charts. As long as the price remains within the declining yet contracting wedge formation, we expect further momentum to the lowerside. We’re basically waiting for a bounce from the upper trendline to pick a sell and a bounce from the lower trendline to pick a buy. A break below the supportive trendline will mean we’re continuing to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should breakout below the supportive trendline.
Trade Recommendations:
Look for long term sell orders
Origin: FreshForex
