Good morning traders,
Yesterday we've seen a profitable jump for EURUSD sellers thanks to weak European PMI data. The price has stopped at 1.2975 area, which was suggested by a support trendline (marked red on the chart below):
Recent uptrend move on EURUSD, according to wave analysis, looks like a correction one. I expect to see more downside move on the pair with targets 1.295-1.293. This idea is actual till price stays below 1.305. Immediate resistance on tick chart is set on 1.3015.
Your comments are very welcome!
Have a safe trading,