Elliott waves analysis – We’re long towards 1.2444


We're long towards 1.2444

Wave Analysis

Perfecty as we forecasted ealier this week. Euro has been rallying higher following last week’s pin bar and is still pretty much bullish both on the weekly and the monthly charts. As long as the price remains above the zone 1.1502-1.1455, we expect a rally further to the upperside and may break above 1.2444. The anticipated bullish price rally should be a five wave cycle and if it can breakout above 1.2444, then we expect further momentum upwards but should not go beyond 1.4050 by the end of this year.

Trade Recommendation.

We’re long with an ultimate target at 1.2444

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