EUR/USD forecast: Euro continues to the lower side

eurWave Analysis

Euro continues to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price keeps making lower highs we expect nothing but a possible momentum to the lower side, the anticipated bearish price rally and should continue much lower. The anticipated bearish price rally is the continuation of the impulsive wave (v) and (5) and should break below 1.06 further to the lower. On this chart, buy positions can be recommended in case the price breaks and closes above the previous day’s highest high.

Trade Recommendations:

Remain short

Origin: FreshForex

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