Wave Analysis
Euro is currently in an active downtrend. As long as the price remains below the Alligator indicator and also below the zone 1.20616-1.20552, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lower side and should breakout below 1.20050. At this point, only sell positions looks ideal and can safely be recommended. If you are a conservative trader, you may want to place a pending sell limit order around 1.20616-1.20552 towards 1.20050
Trade Recommendations:
Conservative traders should wait for a sell around 1.20616 towards 1.20050.
Origin: FreshForex
