We're still short

12 February 2019, EUR/USD

Wave Analysis

Euro is currently trading below a key weekly support level 1.12818. This is a weekly support and as long as the price remains below it, we expect a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave (5) and should break below 1.11555 towards 1.05616. On the weekly chart attached, if the current week's candle can close below 1.12816, then this will be a confirmation that we're heading to the lower side with an ultimate target at 1.05616. Only a break above 1.15060 will attract a buy order.

Trade Recommendations:

We're still short


Graham Osano
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