Wait | 28 February 2018

Wave Analysis:

The corrective wave (4) continues to correct itself to the lower side but still above 1.2240-1.2184, as long as the price is above this zone, we expect a perfect rebound from it pick a long position with an ideal target at 1.2990. The anticipated bullish price rally will be the continuation of the impulsive wave (5) to the upper side and may break above 1.2990 towards 1.35 or even higher. This pair should be traded alongside GBPUSD. AUDUSD, EURHKD and and USDJPY. Apart from the last pair, the remaining three will move in the same direction as euro.

Trade Recommendations:

Buy the impulsive wave (5) upon a rebound from 1.2240-1.2184 and have your target at 1.2990