Wave Analysis
Euro continues to rally within the contracting wedge formation and is not showing any signs of clearly breaking below or above it. As it is right now, we expect nothing but a possible break above the upper trendline to pick a possible bbuy position, otherwise, in case the price breaks below the lower trendline, then we’ll be looking for further momentum to the lowerside. This is the continuation of the previous bearish impulsive five wave cycle and may see the price break below 1.1197 towards 1.10 or even lower.
Trade Recommendations:
We’re on the sidelines
Origin: FreshForex
