Wave Analysis:
The Euro has been trading within the upper and the lower trendline.Recently the price rebounded from the lower trendline at the impulsive wave cycle three towards the upper side at the corrective wave cycle four.Right now the price is on the upper trendline,I expect a further momentum towards the lower trendline in continuation of the impulsive wave cycle five.If you are looking at this pair now pick a sell position from 1.0516 towards 1.0330.On the flipside,should the price break above the upper trendline, then we will be buyers with our first take profit at 1.0855.
Trade Recommendations:
We are sellers towards 1.0330.
Origin: FreshForex
