Elliott waves analysis – We’re holding onto a sell positions.

EURO is currently in an active down trend. As we indicated previous, if the price breaks and closes below the previous weeks lowest low, then further momentum to the lowerside is expected. In this chart, we are expecting a possible rally towards 0.98. The anticipated bearish price rally is the continuation of the last impulsive wave (5) to the lowerside and may break below 0.89. On the flipside, only a clear breakout above the previous week’s highest highest high, then this will be a good place to consider a buy positions.

We’re holding onto a sell positions.