Elliott waves analysis – Look for a potential buy position now

EURUSD – Up

Wave Analysis

Instead of continuing to the upper side, euro corrected itself slightly to the lower side but is still pretty much bullish both on the weekly charts. As long as the price is supported by the weekly support zone 1.1602-1455, we expect a possible momentum to the upper side. The anticipated bullish price is the unfolding of an impulsive five wave cycle but should not go beyond the weekly resistance level 1.2444. If this target is violated, then an acceleration towards 1.3750 is expected in the long run.

Trade Recommendatiion.

Look for a potential buy position now with your take profit at 1.2444.

101% Double the volume

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