EUR/USD forecast: Euro established a support around 1.11956

forex-news-euro_3Wave Analysis

On 25th June, Euro established a support around 1.11956 and has not been able to break any lower side. We expect the current bullish price rally is the continuation of the impulsive wave (c) and should break above 1.12700 towards 1.13430. But should the price break and close below 1.11956, then this will be an ideal place to consider a possible long term sell position with an ultimate target around 1.101 or even lower. As it is now, expect further correction to the upper side towards 1.13430.

Trade Recommendations:

Remain long towards 1.13430.

Remain long towards 1.13430.

Origin: FreshForex

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