Elliott waves analysis – Wait for a clear sell signal around 1.1480.


Resell euro upon a pullback towards 1.1450 with your take profit at 1.0435.

Wave Analysis

Euro is currently trading around 1.1471. We went short around 1.1450 as previously forecasted and is still holding on to this position. If the current week’s candle can close below 1.1450, then we’ll hold onto this short position with an ultimate target at 1.1160. The anticipated bearish price a rally is still the continuation of the impulsive wave v and should break below 1.1160 towards 1.040. And on the upperside, should the price close above 1.1450, then we’re likely to see a move to the upperside towards 1.1595.

Trade Recommendations:

Wait for a clear sell signal around 1.1480.

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