Elliott waves analysis – We’re buyers from 1.21557 with our target at 1.22.

EURUSD – Up

Wave Analysis

During the previous trading day, the British pound pulled back to the lowerside but could not break below the level 1.21557. This is a perfect support level and while the price does not clearly break and close below it. This is an ideal place to consider a possible long term buy position. The idea on this chart is to keep looking for low risk buy orders expecting the price to rally upwards with the next ideal target set around 1.22 or even higher.

Trade Recommendations:

We’re buyers from 1.21557 with our target at 1.22.

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