Elliott waves analysis – waiting for a rebuy from 1.15837-1.14458

EURUSD – Up

Wave Analysis

Despite the previous week’s bearish pin bar, euro is still above the weekly supportive zone 1.15837-1.14458. As long as the price remains above this zone, we expect a possible rally to the upperside. We’re basically waiting for the corrective wave (b) to continue further to the lowerside and should bounce from the supportive zone, where we’ll be looking to buy the next impulsive wave (c) to the upperside with an ultimate target at 1.22760. This view can only be invalidated in case the price breaks below 1.14458.

Trade Recommendation:

waiting for a rebuy from 1.15837-1.14458

101% Double the volume

You may check other analytical reviews on FreshForex website. Source: freshforex.com.