Seller are at 1.2498. | 12 April 2018

Wave Analysis

Euro continues to rally to the upper side and has currently went above a key level 1.2352, if the price can close above this level by the end of today, then this will be a good place to buy this pair at the least risk possible. We expect the anticipated bullish price rally to be a mere phase of the two previous impulsive waves (v) and (c) and should not go beyond the weekly resistance level 1.2498 where we'll be looking for a possible corrective three wave cycle but should not go beyond 1.2042. This view can only be invalidated in case the price clearly breaks above 1.2498.

Trade Recommendations:

Remain long with your target at 1.2498.