eur-usd-15MTrend is bearish in EUR/USD currency pair, 15 minutes time frame. Based on Elliott wave anlaysis, we have got a bullish corrective wave 4 leg which looks completed. Short term resistance is present at 1.1259 price level. As long as price stays below 1.1259 key resistance level, a good idea is to take a sell trade at the current price action and join the down trend.

I expect bearish Wave v leg to start and market is most likely going to fall down towards 1.1135 price level in next coming trading hours. However; a bullish break out in price action above 1.1259 resistance level will end the down trend and in such case, I would prefer to stay out of the market and reanalyze the price action in EUR/USD fifteen minutes chart.

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