Elliott waves analysis – Still short towards 1.0621.

EURUSD – Up

Sell Euro now, and have your take profit at 1.0542.

Wave Analysis

For the better parts of this week, euro has been on the loosing end against the US Dollar, as long as the price remains below 1.1450, we’re still within our sellers territory. Therefore, we’ll expect a possible steep decline towards 1.0621. The anticipated bearish price rally is the continuation of the impulsive wave v to the lower side and should break below 1.1200 towards 1.0705. And on the flip-side, should the price break above and close above 1.1453, then this will be an ideal place to look for a long term long position towards the upper trendline.

Trade Recommendations:

Still short towards 1.0621.

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