Elliott waves analysis – We’re waiting

Euro continues to rally within a range, not going above 1.06879 or below 1.05937. If the price breaks and close above the upper line, then this will be a good place to consider a possible long term buy position towards 1.0740 and may see the price rally much higher. On this chart, keep looking for long term buy positions unless the price breaks and closes below 1.05937. If this level is broken, then further momentum to the lowerside is expected towards 1.045.

We’re waiting