Elliott waves analysis – We’re short below 1.1415.


We're short below 1.1415.

Wave Analysis

After failing to sustain the break above 1.1450, euro pulled back to the lowerside and is now below the hour resistance level 1.1450, we’re now waiting for a break below 1.1416, as long as the price remains below 1.1450, we’re waiting for another break below 1.1416, to confirm that we’re short towards 1.1306. If this target is broken, then further momentum to the lowerside is expected with an ultimate target at 1.12 is expected. As it is on the daily chart, only a break above 1.1490 will push the price upwards towards 1.1550.

Trade Recommendations:

We’re short below 1.1415.

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