Elliott waves analysis – We’re short below 1.1486

EURUSD – Up

We're short below 1.1486

Wave Analysis

During the previous trading day, Euro traded intensely to the lower side and even went below the daily support level 1.15267, the price however, is still above the weekly support level 1.1486. As long as this level protects the lower side, we expect a possible surge to the upper side. But, should this line be broken, then we’ll wait for a correction to the upper side to pick a long term short position with an ultimate target at 1.0466. On its way to the lower side, the key lines to look for include 1.1100 and the next at 1.0780.

Trade Recommendations:

We’re short below 1.1486

101% Double the volume

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