Elliott waves analysis – We’re short

EURUSD – Up

EURUSD has been on a downtrend since last week. Currently, the market is in a corrective wave (ABC Corrective pattern), as we can see on the chart above the market formed an ascending channel from (1.0533) to (1.0691). The market formed a double bottom at 1.0575 and is currently moving impulsively to the upside. I expect this pair to buy at least up to around 1.0685and since 1.0685 is a major zone/resistance zone, I expect the price to be rejected at this zone, form a double top then drop up to 1.0212.

Trade Recommendations:

We’re short

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