Elliott waves analysis – We’re short from 1.14650.

EURUSD – Up

We're short from 1.14650.

Wave Analysis

Earlier today, the corrective wave (iv) continued to the upperside but is still below 1.14650, overall, this pair is in a downtrend and therefore, the current upward rally is the unfolding of a corrective wave count and should not go beyond 1.14650. If this level is broken, then further momentum to the upperside is expected. And should the price rebound from 1.14650, then this will be a good place to look for long term short position. The anticipated bearish price rally is the continuation of the impulsive wave v and should break below 1.13250.

Trade Recommendations:

We’re short from 1.14650.

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