Technical Outlook and Trade Recommendations:
The single currency pair has rallied past 98.00 level as expected and as it was recommended earlier. As depicted above, prices are stalling at 0.786 resistance level for now. It should be noticed that the latest upswing is still to be considered as a counter trend and not a trend reversal. Technically, the correction is in 3 waves till now. The most favourable trading position now would be to turn bearish again.
Trading Recommendations:
Short now at 100.00 levels, stop at 102.00, target open.
Good Luck !
