Elliott waves analysis – We’re long from 1.1486

EURUSD – Up

We're long from 1.1486

Wave Analysis:
Euro is still rallying above the daily support level 1.1486. As long as the price is above this level, we expect nothing but a possible momentum to the upperside. While the price is above this level, we’re basically waiting for a possible correction to the lowerside to pick a long term long position with an ultimate target at 1.2400. This view will only be invalidated in case the price breaks below 1.1486, if this is the case, then we’ll expect further momentum to the lowerside with the next ideal target at 1.0466.
Trade Recommendations:
We’re long from 1.1486

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