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We're short below 1.13870.

We're short below 1.13870. | 11 December 2018

11 December 2018, EUR/USD

We're short below 1.13870.

Wave Analysis

Euro is still rallying within the converging wedge formation, shown above. As long as the price remains within this wedge formation, and most importantly below 1.13970, we expect a possible steep decline towards 1.11780 or even lower. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should first break below 1.12890 before a move towards 1.11780 is seen. According to the current chart set and structure, only sell positions looks more ideal and can be recommended.

Trade Recommendations:

We're short below 1.13870.

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