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Down trend in EUR/USD 15 Minutes chart

Tuesday, November 29, 2016 2:17
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11-29-2016 1-49-10 PMTrend is bearish in EUR/USD currency pair in fifteen minutes time frame. Short term resistance is present at 1.0685 price level. Based on Elliott wave analysis, I expect price action to complete bullish Wave 2 and then resume the down trend.

A good idea is to first wait for the price action to to print Wave 2 and then look for a possible sell trade to join the down trend in EUR/USD currency pair.

However; if price of EUR/USD currency pair closes a bullish candlestick above 1.0685 price level then I would stay out of the market and re-analyze the price action in EUR/USD 15minutes chart.


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