EUR/USD Forecast: euro is currently correcting itself to the upper side

eurWave Analysis

After a drastic decline seen during the previous trading day, euro is currently correcting itself to the upperside within a contracting wedge formation. This is a possible bearish continuation pattern, therefore, while the price does not go above 1.10330, we’re expecting a possible sell towards 1.09925. This view can only be invalidated in case the price breaks above 1.10375, if this is the case, then further momentum towards 1.10555 or even higher is expected but should not go beyond 1.112.

Trade Recommendations:

Look for sell orders towards 1.09835.

Look for sell orders towards 1.09835.

Origin: FreshForex

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