Elliott waves analysis – We are buyers.


Wave Analysis:

The Euro is currently trading in a contracting wedge formation, previously the price bounced back to the lower trendline at the corrective wave cycle four, and the price is currently rallying around the lower trendline. I expect a bullish momentum towards the upper trendline around 1.0700 in continuation of the impulsive wave cyle five. As long as the price remains above the resistance level (1.0375-1.0361),we are buyers.

Trade Recommendations:

We are buyers.

You may check other analytical reviews on FreshForex website. Source: freshforex.com.