Elliott waves analysis – Wait for a retracement to pick a low risk buy order.

EURUSD – Up

Wait for a retracement to pick a low risk buy order.

Wave Analysis

Perfectly as previously forecasted, euro continues to rally to the upperside and is still pretty much bullish both on the daily and the weekly charts. As long as the price is above 1.12564, we’re still within our buyers territory, we expect price to rally even higher towards 1.13615, the anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside and should break above 1.13615 towards 1.15140 or even higher. And on the flip side, should price break below 1.12564 towards 1.1235.

Trade Recommendations:

Wait for a retracement to pick a low risk buy order.

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