Elliott waves analysis – Buy euro around 1.1502

EURUSD – Up

Buy euro around 1.1502

Wave Analysis

After an attempt rise earlier this week, euro is currently pulling back to the lower side. The previous week’s candle is a perfect bullish pin bar candle, and it means the price could rise eventually. Thus, instead of looking for a short position, we expect a possible rally towards 1.11602-1.1455, where we’ll be looking for a clear long term buy position with our target at 1.2444. Should the price go below 1.1502, then we’ll wait for another break below 1.1455 to confirm a possible rally towards 1.04385.

Trade Recommednation.

Buy euro around 1.1502 and have your target at 1.2444.

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