Elliott waves analysis – Still buying euro

EURUSD – Up

Wave Analysis

Despite Monday’s forecast that this pair could continue to the upper side, euro is yet to make any significant moves to the upper side. This pair is still a buy especially while the price is above the weekly support zone 1.14595-1.16067. Unless there’s a clear breakout below this level, we expect a possible rebound from it to pick a long position with an ultimate target at 1.23210. However should the price breakout below 1.16067, then we’ll wait for price to break below 1.14595 to pick a low risk sell position towards 1.04745.

Trade Recommendation.

Still buying euro

101% Double the volume

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