Elliott waves analysis – We’re short towards 1.15340


We're short towards 1.15340

Wave Analysis

Previously last week, the corrective wave (iv) rallied higher but failed to breakout above 1.18070. We expect the rebound from this level to have marked the end of the impulsive wave (iv), that the current bearish price rally is the continuation of both the impulsive waves (v) and (c) and may breakout below 1.15340 towards 1.14245 or even lower. This view can only be invalidated in case the price rebounds from 1.174303, this being the case, we expect a rally to the upper side.

Trade Recommendations.

We’re short towards 1.15340

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