EUR/USD Forecast: pair is very bearish on the monthly chart

usd_eur_news_1Wave Analysis

Nothing much appears to be happening on this pair. We’re still rallying around the previous trading day’s opening price. This pair is very bearish on the monthly chart, but instead of looking for a sell as at now, we’re expecting a possible retracment towards the previous month’s opening price to pick a low risk sell order towards 1.09350. This view can only be invalidated in case the price breaks above 1.10815, if this is the case, then further momentum towards 1.124 or even higher is expected.

Trade Recommendations:

Expect a long term sell from around 1.10815 with your target at 1.09220.

Origin: FreshForex

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