Wave Analysis
Since August, Euro has remained confined within a range, not going above the upper trendline or below the lower trendline. Following the recent bounce from the lower trendline, we expect a possible momentum to the upperside towards the upper trendline and may breakout much higher. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should breakout beyond the upper trendline towards 1.20190. A breakout below the lower trendline will push the price to the lowerside.
Trade Recommendations:
Wait and buy a bounce from the lower trendline towards 1.19855.
Origin: FreshForex
