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Remain short with your first take profit at 1.11780.

Remain short with your first take profit at 1.11780. | 12 December 2018

12 December 2018, EUR/USD

Remain short with your first take profit at 1.11780.

Wave Analysis

During the previous trading day, Euro went perfectly as previously forecasted and is still bery bearish both on the daily and the weekly charts. As we mentioned during our previous forecasts, as long as the price remains below the upper trendline, acting as the resistance to the converging wedge formation. We expect a possible steep decline towards 1.11780. The ideal here is to wait for a clear correction towards the upper trendline or a break below 1.13288 to confirm that we're short towards 1.1178.

Trade Recommendations:

Remain short with your first take profit at 1.11780.

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Bob Stan
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