Wave Analysis
For the past few day’s Euro rallied to the lowerside but is still within a contracting wedge formation. As it is right now, we are sellers towards the lower trendline and may break below it. If this is the case, then further extension of the last impulsive wave (c) to the lowerside is expected with the next ideal target set at 1.14274 and may extend much lower. On the flipside, a break above the upper trendline will push the price to the upperside.
Trade Recommendations:
We’re sellers towards the lower trendline.
Origin: FreshForex
