Wave Analysis
Euro is currently rallying with a contracting wedge formation. While the price is contained within this wedge formation, we’re waiting for a bounce from the upper trendline to pick a sell while a bounce from the lower trendline will give us a a good place to pick a buy position. A break out of this wedge formation will mean we are continuing in that. A break below the lower trendline will mean we are continuing towards 1.06587, while a break above the upper trendline could see price head towards 1.11910.
Trade Recommendations:
Buy a bounce from the lower trendline towards 1.09260.
Origin: FreshForex
