EURUSD – Up
EURUSD has been moving on an uptrend from 0.95425. The market has completely formed the major impulsive 5 waves pattern. After every major impulse pattern, the market normally corrects in form of a corrective 3-wave pattern. From 1.07278 up to 1.08470, the market moved in form of an ascending channel, this signals a change in trend, and I expect the market to reverse to the downside, probably form 1.08578 up to 1.07278 which is the beginning of the ascending channel. To place a sell order wait for the market to break below the lower trendline of the ascending channel first before entering a trade.
Trade Recommendation: We’re short for now
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
