Elliott waves analysis – We’re short towards 1.0521.

EURUSD – Up

Sell Euro now, and have your take profit at 1.0542.

Wave Analysis

During the previous trading day, euro pulled back upwards but is still below the level 1.1450. From what we mentioned previously, we’re still within our sellers territory. As long as the price remains below the level 1.1450, we expect nothing but a possible steep decline towards 1.051 or even lower. The idea is to wait for a correction to the upperside to pick a long term short position towards 1.0521. Only a break above 1.1450 will trigger a possible buy towards 1.1695 and should extend even higher.

Trade Recommendations:

We’re short towards 1.0521.

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