Elliott waves analysis – We’re long

EURUSD – Up

EURUSD is still very bullish since the beginning of this week, the market is in a corrective phase which is the ABC corrective pattern. As we can see from the chart above, the market has formed a descending channel which is a bullish continuation pattern, from minor corrective wave „A“,1.1029 to minor corrective wave „B“ 1.0524. You can place buy orders now with your take profit at (1.1602) and stop loss at (1.0854). Lastly, should the market break below (1.0896), this setup will be invalidated.

Trade Recommendations:

We’re long

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