Elliott waves analysis – We’re looking for  a low risk sell towards 1.09905.

EURUSD – Up

Sell Euro towards 1.10040

Wave Analysis

Instead of continuing to the lowerside, Euro corrected itself to the upperside but could not break above the end of the corrective wave (b). We expect a possible continuation of the corrective three wave cycle and should breakout below 1.10590 towards 1.10040. This view can only be invalidated in case the price breaks above the end of the corrective wave (b), if this is the case, then a momentum towards 1.11830 is expected, should price breakout above this level, then we expect to continue with the previous five wave cycle.

Trade Recommendations:

We’re looking for a low risk sell towards 1.09905.

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