06 April 2018, EUR/USD
Wave Analysis
After a rebound from the daily resistance level 1.2410, this pair has been in a constant down trend and is still pretty much bearish both on the daily and the weekly charts. Yesterday, the price dropped significantly and could likely continue with the same trend today. Today and in the next few days, we expect a possible extension of the impulsive wave (c) to the lower side but should first break below 1.21920 to confirm a possible bearish rally towards 1.20589. Should the price go beyond this target, then we expect a momentum even lower.
Trade Recommendations:
Remain short with an ultimate target at 1.2085
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