We’re looking for a possible long term sell from within the zone 1.15069-1.14656 towards 1.05616. | 04 February 2019

04 February 2019, EUR/USD

We’re looking for a possible long term sell from within the zone 1.15069-1.14656 towards 1.05616.
Wave Analysis:
Despite the bullish momentum seen during the previous week, Euro could not rise above the zone 1.15069-1.14656. This is a significant weekly zone and as long as the price remains below it, we expect a steep decline. The anticipated bearish price rally is the continuation of the impulsive wave (5) to the lowerside and should first break below 1.12670 before a move further lower towards 1.05616 is seen, and on the bullish side, should the price close above 1.15069, then this will be an ideal place to look for a buy position towards 1.24430. The anticipated bullish price rally will be the unfolding of an impulsive wave count and should break above 1.17885 before a move further towards 1.25760 is seen.
Trade Recommendations:
We’re looking for a possible long term sell from within the zone 1.15069-1.14656 towards 1.05616.

BECOME FRESHFOREX ANALYST!

Bob Stan
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