Elliott waves analysis – We’re long above 1.3110.


Wave Analysis

During the previous trading day. the cable pulled back to the lower side but is still above 1.3110. As long as the price is above this level, we expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of the impulsive wave (c) and should break above 1.3240 towards 1.3280 or even higher. This view can only be invalidated in case the price breaks below 1.3110, if this is the case, then we’ll expect a possible momentum further to the lower side with an ultimate target at 1.2920.

Trade Recommendations:

We’re long above 1.3110.

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