Elliott waves analysis – We’re looking for a long term sell from 1.1500 with an ideal take profit at 1.0542.

EURUSD – Up

We're looking for a long term sell from 1.1500 with an ideal take profit at 1.0542.

Wave Analysis

Euro is currently trading around 1.1453. This is exactly the same place we sold it previously, as we mentioned in our previous forecasts, as long as the price remains below the level 1.1500, we expect nothing but a steep decline towards 1.054. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should first break below 1.12125, before a move further to the lowerside is seen with the next ideal target being 1.06. According to the chart attached, only sell positions looks more idea and can be recommended.

Trade Recommendations:

We’re looking for a long term sell from 1.1500 with an ideal take profit at 1.0542.

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