Wave Analysis
After breaking below 1.1069-1.1065, euro pulled back to the upper side but is still below the sellers zone, 1.1069-1.1065. This zone is a clear sellers area and while the price is not able to break and close above the previous day’s highest high, we choose to remain bearish on this pair. The anticipated bearish price rally is the continuation of the corrective three wave cycle and could see the price rally even lower towards 1.1010. As it is on the hourly chart, the idea is to wait for a break below the previous day’s lowest low to pick a sell.
Trade Recommendations:
Sell euro now with your stop loss above the previous day’s highest high, take profit at 1.1010.
Origin: FreshForex
