EUR/USD forecast: Euro bounced of from the 30 minutes support level 1.0999

eur-usdWave Analysis

On 27th of November, Euro bounced of from the 30 minutes support level 1.0999 and could not breakout lower. We expect this bounce to have marked an end to the impulsive wave 5 that the current bullish price rally is the continuation of a corrective three wave cycle and should not break above 1.1020. If price goes above this level, then further momentum to the upperside is expected with an ultimate target at 1.1080. And in case of a break below the support 1.0990, then further momentum even lower is expected.

Trade Recommendations:

Sell a break below 1.0999.

Sell a break below 1.0999.

Origin: FreshForex

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