Elliott waves analysis – We’re sellers

Just as in the British pound, EURO is still in an active downtrend. The idea here is to keep looking for long term sell positions expecting the price to continue much lower towards 0.97 and will likely head much lower. On this chart, I expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the last impulsive wave (5) an is headed towards 0.98 and may head much lower. On this chart, we are strictly sellers. Otherwise, if the price breaks and closes above the two moving averages, then we may consider a possible buy positions.

We’re sellers