Elliott waves analysis – Were still selling euro towards 1.10


Were still selling euro towards 1.10

Wave Analysis

Perfectly as we said previously, euro continued to crash and is still pretty much bearish both on the daily and the weekly charts. Yesterday, we saw a steep decline in the value of euro and even went below 1.15850. This is a bearish dominance sign and as long as the price is contained below it, I expect a surge to the lower side with an ultimate target at 1.13. The anticipated bearish price rally is then continuation of both the impulsive waves v and (c) to the lower side and may break below 1.13 but should not go beyond 1.10.

Trade Recommendation.

Were still selling euro towards 1.10

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