Wave Analysis
Yesterday, Euro dipped as low as 1.09050 but ended up closing around the same place it opened during the previous trading day. We expect the bounce from 1.09330 to have marked an end to the corrective three wave cycle that the current bullish price rally, which began yesterday, is the continuation of an impulsive wave count and could see the price break beyond 1.11300 towards 1.125. This view will only be invalidated in case the price breaks and closes below the previous day’s lowest low.
Trade Recommendations:
Look for low risk buy positions with your take profit at 1.11300.
Origin: FreshForex
