Elliott waves analysis – We’re sellers with an ultimate target set at 0.89.

EURUSD has been in an active downtrend for sometimes now. As long as the price remains below the previous day’s lowest low are looking for a possible long term sell position. As it is now, we are looking for a possible break below the wedge formation to pick a possible long term sell position expecting the price break below 0.99600 and may continue much lower with an ultimate target set at 0.98.

We’re sellers with an ultimate target set at 0.89.