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Pick a short position around 1.2325

Pick a short position around 1.2325 | 09 April 2018

09 April 2018, EUR/USD

Pick a short position around 1.2325

Wave Analysis:

Instead of continuing short as previously forecasted, euro pulled back upwards and could hardly reach the daily support seen at 1.21817. We still expect a rally towards this support in the next few days, but at the moment, we expect a possible rally further to the upper side but should not go beyond the daily resistance level 1.2325, where we'll be looking to resell the impulsive wave (c) to the lower side with the first target at 1.21817 and the next target at 1.20889. If you're a bit skeptic to sell this pair around 1.2325, you could wait for a break below 1.21817 to pick a short position towards 1.20889.
Trade Recommendation:
Pick a short position around 1.2325 with your target at 1.21817

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Bob Stan
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