Elliott waves analysis – We are sellers.


Wave Analysis:

This pair has been trading below the resistance level (1.0113-1.0109) for a while now, recently the price rebounded from the corrective wave cycle four towards the upper side at the impulsive wave cycle five. Right now the price is on the resistance level, I expect a bearish momentum towards around 1.0020.If you are looking at this pair right now, pick a sell from the resistance level with your ideal target at 1.0020. On the flipside, should the price break above the resistance level then we automatically become buyers.

Trade Recommendations:

We are sellers.

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