Elliott waves analysis – We’re waiting for buy orders towards 1.09.

During the previous week, Euro rallied to the lowerside but could not break below the level 1.05846. This is a significant level and while the price does not break and close below it, we are waiting for a rebound from it to pick a possible long term buy position with our ideal target set around 1.08 and may likely continue to the upperside towards 1.90 or even higher. On the flipside, should the price break and close below 1.0584, then this will be a good place to consider a possible sell position.

We’re waiting for buy orders towards 1.09.