Elliott waves analysis – We are short.


Wave Analysis:

During tje previous trading days, the price rallied from the impulsive wave cycle one towards the lower side in continuation of the corrective wave cycle two. But then rebounded towards the upper trendline at the impulsive wave cycle three where the price is currently at. I expect a bullish momentum from 136.28 towards 135.00 in continuation of the corrective wave cycle four then a rebound towards the upper trendline. If you are currently looking at this pair right now, pick a sell from 136.28 towards 135.00.Unless the price breaks above the upper trendline, we are short.

Trade Recommendations:

We are short.

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