Elliott waves analysis – We’re loooking for a long position.

EURUSD – Up

We're loooking for a long position.

Wave Analysis:

Euro is still consolidating above 1.14465. As long as the price remains above this level, we expect a possible rally to the upperside. The anticipated bullish price rally is the continuation of an impulsive wave count to the upperside with an ultimate target at 1.2500. The level 1.14465 is a key level and as long as it holds the price to the upperside, we’re long, however, should the price break below it, then this will be a good place to look for a long term short position with an ultimate target at 1.0504.

Trade Recommendations:

We’re looking for a long position.

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