Elliott waves analysis – A weekly support is seen around 1.12564

EURUSD – Up

Wave Analysis

The corrective wave (b) continues to rally to the lowerside but is still above the end of the last impulsive wave (5). On the weekly chart, we still upwards on this pair, our expectations is that the price should continue to correct itself to the lowerside, but should not go below 1.12564 where we’ll be looking to buy the last impulsive wave (c) towards 1.13445, should the price ascend above this level, then we expect the impulsive wave (c) to stretch even higher towards 1.14970 or even higher. The idea is to wait for a possible anywhere as long as the price is above 1.12564.

Trade Recommendations:

Waiting to rebuy euro

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