Wave Analysis
Euro is currently below 1.12471, this is a key monthly level and as long as the price remains above it, we’re waiting for a clear buy signal with an ultimate target at 1.22033. Ideally, we expect a possible bounce from this level to have marked an end to the corrective wave (b), that any clear bounce signs from 1.12471 will be the onset of the last impulsive wave (c) towards the upper trendline and should break above towards 1.22033. This view can only be invalidated in case the price breaks below 1.12471. In this case, the price is likely to continue towards 1.07330.
Trade Recommendations:
Wait for a clear buy signal towards 1.22033.
Origin: FreshForex
