Elliott waves analysis – We’re short as long as the price is below 1.12230.

EURUSD – Up

We're short as long as the price is below 1.12230.

Wave Analysis

During the previous trading day, Euro barely moved our direction but is still below the monthly level 1.2230. As we mentioned in our previous forecast, we’re still looking for possible long term sell orders especially while the price is below 1.2230. As it is on the monthly traders should look for long term sell orders. The best way is to wait for a possible correction towards 1.13690 to pick a low risk sell order towards 1.07330. If the Current week’s candle can close below 1.12230, then this will be a confirmation that we’re short towards 1.07330.

Trade Recommendations:

We’re short as long as the price is below 1.12230.

A lot of interesting information on the webinar!

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