EURUSD – Up
According to the weekly chart attached, there was a perfect wedge formation which was broken when the price went below the supportive trendline. As we’ve been mentioning on our previous forecasts, while the price remains below the zone 1.1450-1.1395, we’re still within the sellers territory, therefore, we recommend looking for a long term short positions with an ideal target at 1.054. This sell position should be the continuation of the impulsive wave v to the lowerside and should break below 1.0950 towards 1.054, you could sell now and have your stoploss above last week’s highest high.
Sell Euro now, and have your take profit at 1.0542.
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You may check other analytical reviews on FreshForex website. Source: freshforex.com.