Remain short with an ultimate target around 1.08750. | 12 February 2020
12 February 2020, EUR/USD
Wave Analysis
During the previous trading day, both the impulsive waves (v) and (5) continued to the lower side and is still pretty much bearish. As long as the price remains below the 1.09220, we expect further momentum to the lower side and should break below 1.08950. The anticipated bearish price rally is the continuation of the both the impulsive waves (v) and (5) should break below 1.08950. This view can only be invalidated in case the price breaks and closes above the level 1.09490.
Trade Recommendations:
Remain short with an ultimate target around 1.08750.
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.
