Elliott waves analysis – Buy a break above the previous weeks highest high.

EURUSD – Up

Buy Euro towards 1.1241

Wave Analysis

Nothing much has happened on this pair since the previous day’s forecast. The close of the previous day saw Euro consolidate and could not breakout above the previous days highest high. As long as this high is not violated to the uppersidie with a big green candle, we choose to remain on the sidelines. The anticipated bullish price rally is the continuation of the impulsive wave (V) and 5 and should proceed even higher with an ultimate target around 1.210 or even higher. As it is, only buy positions are ideal.
Trade Recommendations:
Buy a break above the previous weeks highest high.

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