Elliott waves analysis – We are buyers.


Wave Analysis:

The Euro is currently trading in an expanding wedge formation, previously the price rallied around the upper trendline for quite sometime, but eventually bounced off to the lower trendline at the impulsive wave cycle five. As at now the price is at the lower trendline, I expect a further bullish momentum towards the upper trendline. As long as the price remains above the resistance level (1.0399-10380) we are long.

Trade Recommendations:

We are buyers.

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