Wave Analysis
A fortnight ago, Euro dropped below a major support 1.11120 and also below a significant weekly supportive trendline. During the previous week, euro attempted to rise back above this trendline, but could not close above, as long as the price is contained below this trendline, we’re looking for long term sell orders. The idea is to wait for ratracements back to the previous week’s highest high to pick a low risk sell orders. The anticipated sell position is the continuation of the impulsive wave (v) and should break below the previous weeks lowest low towards 1.108930.
Trade Recommendations:
Wait for a low risk sell towards the previous week’s lowest low.
Origin: FreshForex
