Elliott waves analysis – we’re looking for along positions

EURUSD – Up

Wave Analysis

After attempted break below the supportive zone 1.14713-1.16055. Now that the price is above this level, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the unfolding of a corrective three wave cycle and should break above 1.17810. If this is the case, the we’ll expect a possible momentum further to the upper side. This view is only valid as long as the price remains above the marked zone above, but should the price break below 1.16055, then we’ll wait for a break below 1.14713 to confirm further rally downwards.

Trade Recommendations:

we’re looking for along positions

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