Elliott waves analysis – Sell euro around 1.19328


Sell euro around 1.19328

Wave Analysis

Perfectly as previously forecasted, euro corrected itself to the upper side but could not go above the daily resistance level 1.19328, as long as this level is not clearly violated to the upper side with a big green candle, we expect a rebound from this level to pick a long term long position with an ultimate target at 1.17380, if this target is broken, then the price will likely continue to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (c) but should not go beyond 1.1524.

Trade Recommendations:

Sell euro around 1.19328 with your target at 1.1524

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