Elliott waves analysis – Only Buy a rebound from $1.14595.

EURUSD – Up

Only Buy a rebound from $1.14595.

Wave Analysis

Instead of rallying to the upperside, Euro corrected itself slightly to the lowerside but is still above the supportive zone 1.15-1.14. As long as the price remains above the supportive zone, marked above, we expect a possible bounce from this zone to pick a long term long position with an ultimate target at 1.24. And in case of a breakout below 1.14, then this will be a good place to look for a long term short position with another lower target at 1.04245. With the short position, you can take profits at 1.100.

Trade Recommendation.

Only Buy Euro on a clear bounce from $1.14595.

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