After the end of the previous five wave cycle around 1.1884, Euro entered into a possible consolidations not going above 1.1823-1.1835 or below 1.1732-1.1743. Unless there's a clear break out of this consolidations we're only interested in buying around 1.1732-1.1743 and selling around 1.1823-1.1835. A clear break below this zone will push the price to the lower side but should not go beyond 1.1635. If this level is broken, then we'll wait for a break below 1.1621 to confirm the continuation of this bearish rally towards 1.1502. This pair will have a similar price action to EURAUD, NZDUSD, and GBPUSD. These pairs should be traded alongside each other.
Trade Recommendations:
Wait for a clear break below 1.1732-1.1743 to short this pair with your target at 1.1635
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