Elliott waves analysis – We’re holding onto a long term sell position.

EURUSD – Up

Wave Analysis:

Euro is currently heading to the lowerside. As it is right now, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the last impulsive wave (5) to the lowerside and should break below 0.97 and may head much lower. On the flipside, should the price break above the upper moving averages, then this could be a good place to consider a possible long term buy position.

Trade Recommendations:

We’re holding onto a long term sell position.

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