EUR/USD forecast: price is held below the upper trendline

eur-usdWave Analysis

Euro continues to rally to the lowerside perfectly as previously forecasted. While the price is held below the upper trendline and within the falling wedge formation, we are looking for a possible long term sell position towards the lower trendline. If the price breaks below this trend line, then we will be expecting a rally towards 1.21 and may extend much lower. As it is right now, buying, or holding onto is a bit risky and may not be recommended.

Trade Recommendations

Remain short towards the lower trendline

We're sellers towards 1.17560

Origin: FreshForex

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