Elliott waves analysis – As long as the price remains above 1.1450 we expect a possible momentum to the upper trendline.

EURUSD – Up

Sell Euro now, and have your take profit at 1.0542.

Wave Analysis

Despite the previous forecast that this pair could rally to the lowerside, Euro pulled back to the upperside and is still above the level 1.1450. As we mentioned previously, while the price remains above the level 1.1450, we expect a possible rally to the upperside towards the upper trendline. The idea is to wait for a possible correction towards 1.1450 to pick a possible long position towards the upper trendline. A close below the level 1.1450 may attract a possible short position with an ultimate target at 1.0521.

Trade Recommendations:

As long as the price remains above 1.1450 we expect a possible momentum to the upper trendline.

You may check other analytical reviews on FreshForex website. Source: freshforex.com.