Elliott waves analysis – Buyers coming in

EURUSD – Up

Wave Analysis:

During the previous week, euro opened at 1.1680 , went as low as 1.15100 and as high as 1.1728 but ended up closing at 1.1655 just a few pips below its opening. The previous week’s candle is a perfect bullish pin bar closing above a key zone 1.1602-1.1455. As long as the price remains above this zone, we expect a possible momentum to the upper side. We expect this upward rally to be impulsive in nature but should not go beyond the monthly support level 1.2444. Sell positions can only be recommended upon a break below 1.1459.

Trade Recommendations:

We’re long with an ultimate target at 1.2444

101% Double the volume

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