Elliott waves analysis – We’re short for now


EURUSD is currently in an impulsive phase, forming the major impulsive wave ‚V.‘ The price has created a bull flag below the resistance zone of 1.0882. As observed in the chart above, the price has already impulsively broken above the 1.0882 resistance zone to the upside. We maintain a bullish outlook as long as the price remains above 1.0882. Our expectation is for the price to reach 1.0759, followed by a reversal to the upside, targeting the resistance zone of 1.0955. Consider placing a long position at 1.0759 with a profit target set at 1.0955.

Trade Recommendations:

We’re short for now

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