Elliott waves analysis – We’re short

EURUSD – Up

EURUSD is currently in the process of forming the impulsive „V“ wave pattern. This pair has been experiencing a bullish trend for the past few days, but we can now confirm that the bullish momentum is decreasing and the bears will likely take control soon. This is due to the fact that the market has formed an ascending channel from 1.1014 to the major wave „V“ at 1.1063. I anticipate the market to break below the lower trendline of this ascending channel and then drop down to our major impulsive wave „V“ at 1.0920.

Trade Recommendations:

We’re short

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