Elliott waves analysis – We’re looking for a sell from the previous week’s highest high.

EURUSD – Up

Sell Euro now, and have your take profit at 1.0542.

Wave Analysis

During the previous week, Euro opened at 1.13956, went as high as 1.15695 and as low as 1.13949 but ended up closing at 1.14660 just a few pips above its open price. The previous week’s candle is a possible sell candle and as long as the price remains below the level 1.1485, we expect a possible plunge to towards 1.1200 or even lower. The anticipated bearish price rally is the continuation of the impulsive wave v and may break below 1.1200 towards the next weekly support set at 1.0621. You may also observe the level 1.0990 for possible rebound to pick a buy.

Trade Recommendations:

We’re looking for a sell from the previous week’s highest high.

BECOME FRESHFOREX ANALYST!

You may check other analytical reviews on FreshForex website. Source: freshforex.com.