EUR/USD rate touched 1.25 on Friday last week ,but managed to recover and is currently trading around 1.2640 . As you can see ,we have waves 1-2-3 and is currently forming its Wave -4- correction which means the ZONE 1.28 – 1.2830
Then we will be preparing for another bearish reversal for Wave -5- ,which is supposed correction to take the EUR/USD exchange rate below 1.25

By Theodoros Batsoulis, Technical Analyst