Wave Analsis:
During the previous trading day, the impulsive five wave cycle headed to the lower side and is still pretty much bearish both on the daily and the 4 hour chart. As long as the price is below 1.15768, we expect further rally to the lower side. If you’re not short already, you can still look for short positions now and have your take profit at 1.15870. The anticipated bearish price rally is the continuation of both the impulsive waves (v) and (c) and may break below 1.15870. The ideal here is to wait for a slight correction then pick a low risk sell position.
Trade Recommendations:
We’re short 1.15870.
Origin: FreshForex
