4-20-2017 3-05-16 AMTrend is bullish in EUR/USD currency pair fifteen minutes time frame. Short term support is present at 1.0671 price level. Based on Elliott wave analysis, we have got a bearish Corrective Zig Zag pattern at Wave 4 location. To me; this just a pull back in market as the trend remain up as long as price stays above 1.0671 support area.

So, a good idea is to look for a possible buy trading chance at Wave 4 location to join an uptrend. However; if price action drops below 1.0671 key support level then up trend will become in-valid. In such a market scenario, it would be best not to trade the market and re-analyze the EUR/USD 15 minutes chart.

 

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.