Forex Technical Analysis: Trend potential – We’re short with our target at 1.11153.

EURUSD – Up

We're short with our target at 1.11153.

Wave Analysis

Last week, EURUSD maintained an active up trend and even reached the highs of 1.11694, but could not break above the daily high. This is a potential sell place and while the price is not successful in its attempts to break above it, we’re waiting for a possible sell. With this sell, we expect price to proceed towards 1.11153, or 1.10818 or even lower to 1.10547. A breakout above the daily high could push the price to the upper side towards 1.1211 and ion case of a break above, then a move even higher towards 1.14 is expected.

Trade Recommendations:

We’re short with our target at 1.11153.

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