Elliott waves analysis – As long as the price is above 1.14626, we expect a possible momentum to the upper side.

Byadmin

Oct 15, 2018

EURUSD – Up

As long as the price is above 1.14626, we expect a possible momentum to the upper side.

Wave Analysis:

Currently the price is above a weekly support level 1.14626. AS long as the price is above this level, we expect a possible momentum to the upper side. The anticipated bullish price rally is the unfolding of an impulsive wave count to the upper side and should break above 1.1900 towards 1.25060. This view can only be invalidated in case the price breaks below 1.14626, if this is the case, then a momentum towards 1.04720 or even lower is expected, the expected downward rally is the continuation of the impulsive wave (v) further to the lowerside.

Trade Recommendations:

As long as the price is above 1.14626, we expect a possible momentum to the upper side.

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