eur-usd-15MTrend is bullish in 15 minutes chart of EUR/USD currency pair. Current bullish leg could be labelled as Impulse. Which means, I expect the start of a short term up trend in EUR/USD currency pair. Based on Elliott wave analysis, the long term daily chart trend is still bearish but I expect price to move up in 15 minutes time frame to print bullish impulse wave 3. Intra-day support is present at 1.0956 price level. So, as long as price stays above 1.0956 support level, look for buy trades. However; a bearish drop in price below 1.0956 support level will end the up trend. In such case I will take the opportunity to stay out of the market and re-analyze the price action.

By FXOpen