Wave Analysis
During the previous trading day, Euro rose as high as 1.10900 but ended up closing around 1.10370. We expect the bounce from 1.10260 to have marked an end to the corrective wave (iv) that the current bullish price rally is the continuation of the impulsive wave (v) and should continue massively to the upperside towards 1.10810. A break above this level will push the price even higher with the next ideal target at 1.20 or even higher. This view will only be invalidated in case the price breaks below the previous day’s lowest low.
Trade Recommendations:
Buy Euro towards 1.10810.
Origin: FreshForex
