Elliott waves analysis – On the sidelines

EURUSD – Up

On the sidelines

Wave Analysis

Euro continues to rally to the lowerside but is still above the weekly support level 1.15945-1.14593. As long as the price remains above this zone, we’re still within the buyers territory, thus, if you’re in a long position already, leave this position open. If not, you can wait for a clear bounce from this zone to pick a long term long position with an ultimate target at 1.24545. In case of a breakout below 1.15945, then we’ll wait for another break below 1.14593 to confirm further bearish momentum towards 1.04745.

Trade Recommendations:

Wait

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