Wave Analysis;
During the previous trading days, the price broke below the resistance zone (1.1294-1.1265),the price retraced back to the same level in a corrective wave cycle four.Currently the price is in an impulsive wave cycle five,as long as the price remains below the resistance level we expect to continue short.However,the price could also try to retrace back towards 1.1255 in a move to correct the impulsive wave count five.
Trade Reccommendations:
We are short.
