We're short below 1.13870. | 11 December 2018
11 December 2018, EUR/USD
Wave Analysis
Euro is still rallying within the converging wedge formation, shown above. As long as the price remains within this wedge formation, and most importantly below 1.13970, we expect a possible steep decline towards 1.11780 or even lower. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should first break below 1.12890 before a move towards 1.11780 is seen. According to the current chart set and structure, only sell positions looks more ideal and can be recommended.
Trade Recommendations:
We're short below 1.13870.
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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
