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We're expecting further momentum towads 1.16242.

We're expecting further momentum towads 1.16242. | 05 April 2021

05 April 2021, EUR/USD

We're expecting further momentum towads 1.16242.

Wave Analysis

Euro is currently in an active downtrend. As long as the price remains below the Alligator indicator we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive ave (c) to the lowerside and should breakout below 1.16242 towards 1.15 or even lower. A rebound from around 1.16242 will be a good place to consider a possible long term buy position expecting the price to continue to the upperside with an ideal target at 1.18342.

Trade Recommendations:

We're expecting further momentum towards 1.16242.

Bob Stan
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