Wave Analysis
Currently, Euro is rallying within a falling channel formation. As long as the price remains below the upper trendline, we are looking for a possible to the lowerside towards the lower trendline. The anticipated bearish price rally is the continuation of the last impulsive wave (5) to the lowerside and should breakout below 1.17490 towards 1.16 and may extend much lower. On the flipside, if the price breaks above the upper trendline, then this will be the ideal place to consider a possible long term buy position towards 1.19510.
Trade Recommendations:
We’re still sellers towards 1.1619.
Origin: FreshForex
