EURUSD – Up
Wave Analysis
During the previous week, euro declined in value but could not go below 1.16067. Instead, the price bounced off from this weekly support and ended up closing above its weekly opening price. The previous week’s candle was a near perfect bullish pin bar candle, and as long as the price remains above 1.16067, we expect a rally to the upper side. Ideally, we expect the rebound from the supportive zone 1.14595-1.16067 to have marked the end of the impulsive wave (c), that any clear move to the upper side will be the unfolding of an impulsive five wave cycle with an ultimate target at 1.25090.
Trade Recommendations:
Look for long positions towards 1.25090.
101% Double the volume
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