We are short for now. with our target around 1.21345. | 15 May 2020

Wave Analysis

During the previous trading day, the corrective wave (iv) continued to the upper side but could not go above 1.22345. We expect this bounce to be the end of the corrective wave (iv) that the current bearish price price rally is the continuation of both impulsive waves (v) and [c] and should break below 1.21545 towards 1.21345. If the price breaks and closes above the previous day's highest high, then this could be a possible indication that we are continuing to the upper side with an ultimate target around 1.23145, a break above this level will push price much higher.

Trade Recommendations.

We are short for now. with our target around 1.21345.