Elliott waves analysis – Wait for a buy upon a rebound from 1.1459

EURUSD – Up

Wave Analysis

Euro is currently pulling back to the upper side. Instead of continuing to the lower side, euro is currently correcting itself to the upperside, we expect a possible extension of this rally to the upperside but should not go beyond the previous week’s opening price, if you’re not already in a short position, you could wait for a rally towards the previous week’s opening price to pick a short position with an ultimate target at 1.1459. Should the price break below 1.1459, then we expect the impulsive wave (c) to extend further to the lower side.

Trade Recommendation:

Wait for a buy upon a rebound from 1.1459

101% Double the volume

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