Elliott waves analysis – We are buyers towards 1.0450.


Wave Analysis:

The Euro bounced off from the impulsive wave cycle three towards the lower trendline at the corrective wave cycle four. Right now the price is on the lower trendline, I expect a rebound towards the upper trendline around 1.0450 in continuation of the impulsive wave cycle five. On the flipside, should the price break below the lower trendline, then 1.0165 would be a good place to pick a sell from with the first ideal target at 1.0005.But as of now we are buyers from 1.0181 towards 1.0450.

Trade Recommendations:

We are buyers towards 1.0450.

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