*** EUR/USD – SHORT TERM ELLIOTT WAVE ANALYSIS **
Trend is bearish in EUR/USD currency pair, 15 minutes time frame. The market is falling down on a short term basis to complete bearish impulse Elliott wave pattern and traders should look for a short trade. So, all those Forex traders who have followed my Elliott analysis have made the right decision as the price has descended Strong key resistance level is present at 1.0907 price level.
In my judgment, price action in EUR/USD is now going to move sideways to print a possible Bearish running triangle corrective Elliott wave pattern, in the coming trading hours.
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Currently; Bearish running triangle pattern looks incomplete. So, wait for the market to first print all the triangle legs and then look for a possible sell trading chance to join the down trend. However; if the price of EUR/USD currency pair breaks above 1.0907 critical resistance level then I might like to stay out of the market and re-examine the fifteen minutes chart of EUR/USD currency pair.
