Wave Analysis
Despite the previous forecast that euro could rally to the lowerside, we saw an extension of the corrective wave (iv) to the upperside and is still pretty much bullish. If you are looking at this chart at the momentum, expect the corrective wave (iv) to extend further to the upperside before we pick the last impulsive wave cycle to the lowerside with an ideal target set at 1.1818. The idea is to watch for sell candles such as bearish pin bar candles, engulfing candles and bearish inside bar candles to trigger a possible long term sell towards the level mentioned above.
Trade Recommendations:
We’re waiting for a possible sell signal with our target set around 1.1818
Origin: FreshForex
