Elliott waves analysis – EURUSD. We’re looking for buy orders towards 1.1348.

EURUSD – Up

EURUSD. We're looking for buy orders towards 1.1348.

Wave Analysis

During the previous trading day, Euro rose significantly and is still pretty much bullish both on the daily and the weekly charts. As long as the price remains above 1.1245, we expect a steep momentum even further to the upperside. The anticipated bullish price rally is the continuation of an impulsive wave count but should not go beyond the daily resistance level 1.1348. As it is, only buy positions looks more ideal and can be recommended, but should price break below 1.1185 towards 1.1125.

Trade Recommendations:

We’re looking for buy orders towards 1.1348.

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