Elliott waves analysis – Wait for a correction to pick a sell towards 1.0521.

EURUSD – Up

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

Wave Analysis

During the previous trading week, Euro declined steeply and is still very much bearish both on the daily and the weekly charts. As long as the price remains below the zone 1.1480-1.1393, we expect nothing but a possible steep decline towards 1.0521. The anticipated bearish price rally is the continuation of the impulsive wave v and should break below 1.1200 towards 1.0950 or even lower. The idea here is to wait for a possible correction to the upperside before you resell the last impulsive wave v towards 1.0521 or even lower.

Trade Recommendations:

Wait for a correction to pick a sell towards 1.0521.

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