Elliott waves analysis – We’re short with an ultimate target at 1.0521.

EURUSD – Up

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

Wave Analysis

Euro is currently trading around 1.1351. As we mentioned previous, as long as the price remains below 1.1451, we’re within our sellers territory, we’re waiting for a possible correction towards 1.1395 to pick a possible long term short position towards 1.0521. The anticipated bearish rally is the continuation of the impulsive wave v to the lowerside and should break below 1.1280 towards 1.0705, a break below this level will push the price further to the lowerside towards 1.0521 or even lower. Only a break above 1.1450 may invalidate the anticipated bearish price rally.

Trade Recommendations:

We’re short with an ultimate target at 1.0521.

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