Elliott waves analysis – We’re short from 1.14158 towards 1.13063


We're short from 1.14158 towards 1.13063

Wave Analysis

Instead of a rally to the lowerside, euro pulled back to the upperside but is still below the hourly resistance zone 1.14158-1.14495. As long as the price below this zone, we expect nothing but a possible momentum to the anticipated bearish price rally is the unfolding of an another impulsive wave count to the lowerside and should break below 1.13063. If this is the case, then further momentum to the lowerside is expected with an ultimate target at 1.125. and on the otherside, should the price break above 1.14495, then this will be a good place to look for a long position.

Trade Recommendations:

We’re short from 1.14158 towards 1.13063

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