Elliott waves analysis – Sell from 1.15069 towards 1.05616.

EURUSD – Up

Wave Analysis

During the previous trading day, Euro pulled back upwards and is now above a key level 1.12780, this is a key level and as long as the price remains above it, we expect a possible surge towards 1.14656, the idea here is to wait for a slight correction to the lowerside to pick a buy order towards 1.14656, but should the current week’s candle close below 1.12780, then this will be an ideal place to look for a long term sell order towards 1.05616. As it is, a buy position can be recommended but only up to 1.15069.

Trade Recommendations:

Sell from 1.15069 towards 1.05616.

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