Elliott waves analysis – Wait to buy euro around 1.17430


Wait to buy euro around 1.17430

Wave Analysis

Yesterday, euro rallied higher but ended up closing red, but is still above 1.17670, For an extended duration now, euro has been in constant downtrend and chances of continuing downwards are very high, however, as long as the price remains above 1.17430, this pair could rebound from this level, however, should the price break below 1.17430, then this pair could continue to the lower side with the next take profit at 1.15790. This downward rally will be the continuation of both the impulsive waves v and (c) and may break below 1.15790.

Trade Recommendations:

Wait to buy euro around 1.17430 towards 1.19560.

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