Resell euro around 1.1861 | 14 December 2017

Wave Analysis:

Instead of continuing short as previously forecasted, there was a slight correction of the impulsive wave (c) to the upper side but still below 1.1861. This is a key daily support level and as long as it remains intact, we expect a rebound from it to sell the impulsive wave (c) with the first target at 1.1720 and the next target at 1.1120. If 1.1861 is violated, then we expect a possible bullish price rally with an ultimate target at 1.201. This pair should be traded alongside EURAUD, NZDUSD, AUDUSD and GBPUSD. These pairs will have a similar price action today.

Trade Recommendations:

Resell euro around 1.1861 with an ultimate target at 1.1120