EUR/USD forecast: euro rallied to the lowerside

eur_usdWave Analysis:

Just as in the British pound, during the previous trading day, euro rallied to the lowerside but is currently reaching a significant support level 1.16920. This is a major level and while the price is not able to clearly break and close below it we are waiting for a rebound from it to pick a possible long term buy position. A break below it will mean we are continuing to the lowerside with the next ideal target set around 1.15 and may extend much lower. If you are looking at this chart right now, we’re watching for a rebound from around 1.16 to pick a low risk buy position.

Trade Recommendations:

Wait for a buy from around 1.15

Wait for a buy from around 1.15<

Origin: FreshForex

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