Elliott waves analysis – We’re long from 1.14595.


We're long from 1.14595.

Wave Analysis

Last week, instead of a rally to the upperside, Euro declined steeply and is still pretty much bearish both on the weekly and the monthly charts. This week and possibly during the coming week, we expect a possible steep decline towards the weekly support level 1.14595. You can still look for short positions now but have your take profit at 1.14595. If you’re a bit skeptic with this position, you can wait for a rebound from 1.14595 to pick a long term long position with an ultimate target at 1.25090.

Trade Recommendations:

We’re long from 1.14595.

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