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Up trend in EUR/USD 15 Minutes chart
Thursday, March 16, 2017 12:17
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Trend is bullish in EUR/USD currency pair, 15 minutes time frame. Short term support area is present around 1.0685 level.
Based on Elliott wave analysis, price is moving sideways to print Wave 4 pattern. Wave 4 is going to be a Flat or Triangle pattern. So, expect price action to waste time and then expect a bullish break out in wave 5.
A good idea is to wait for a bullish break out and then take a buy trade to ride and trade bullish motive wave 5 leg. However; if market drops below 1.0685 support level then up trend is going to end. In this case, I would prefer to stay out of the market and re-analyze the price action.
Source: http://fxinstructor.com/blog/up-trend-in-eurusd-15-minutes-chart-2
