Elliott waves analysis – As long as the price remains below 1.06304, we are looking for low risk sell positions.

EURUSD – Up

During the previous trading day, euro rallied to the lowerside and is still showing signs of continuing to the lowerside. As long as the price remains below 1.06304, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the last impulsive wave (v) to the lowerside and may see the price extend much lower towards 1.04 and may extend much lower. Only a break and close above 1.06304 will push the price much higher.

Trade Recommendations:

As long as the price remains below 1.06304, we are looking for low risk sell positions.

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