Elliott waves analysis – We’re short towards 1.15790.

EURUSD – Up

We're short towards 1.15790.

Wave Analysis

During the previous trading day, the impulsive wave v and (c) extended significantly to the lower side and even went below the daily support level 1.17430. This is a clear sign that the bears are in full control of this market and while the price is contained below 1.17430, we expect a possible rally to the lower side and may break below 1.15790 towards 1.142 or even lower. We may consider a buy position in case the price again break above 1.17430, but while below it, short positions are recommended.

Trade Recommendations:

We’re short towards 1.15790.

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