Elliott waves analysis – We’re holding onto sell positions towards 1.11

Euro continues to rally to the lowerside and is still showing signs of continuing much lower. On this chart, I expect nothing but a possible momentum to the lowerside. yesterday, the price pulled back upwards but could not hit the 50.0% fib level, we are still waiting for a pullback to the upperside, however, if the price breaks below the previous day’s lowest low, then we expect the last impulsive wave (5) to push the price much lower with the next ideal target set at 1.12 and may head much lower.

We’re holding onto sell positions towards 1.11