Elliott waves analysis – We’re long towards 1.25285

EURUSD – Up

We're long towards 1.25285

Wave Analysis

After bouncing from the daily support level 1.21937, euro has been in a constant up trend and is still pretty much bullish both on the daily and the weekly charts. As long as the price remains above the short term resistance level 1.23656, we expect a possible momentum to the upper side. Ideally, we expect a break above 1.25285 to confirm a possible rally towards 1.30 or even higher. On the bearish point of view, should the price go below 1.25285, we’ll expect a decline towards 1.21517 which is a long term buy place.

Trade Recommendations.

We’re long towards 1.25285

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