Wave Analysis
After violating the previous week’s highest high, Euro established a new high around 1.17720. Unless the price can clearly break and close above this high, we are likely to see bears come in rapidly towards 50.0% fib level. On its way to the lower side, the key levels to look for include 1.16660, 1.15950 and 1.15590. On the flip side, should the price break and close above 1.17720, then this will be an ideal place to consider a possible long term buy position with an ultimate target around 1.18430.
Trade Recommendations:
Buy a break above 1.17720.
Origin: FreshForex
