Analysts at Goldman Sachs offer an Elliot wave analysis on the EUR/USD pair, with the upside looking more promising above 1.1376 supply zone. Key Quotes: “EURUSD tested/held strong support at 1.1234. The recovery since then has however been pretty poor. In the broader scheme of things, it’s right at the bottom of a range that’s held since August last year ~1.12. Range highs are now at 1.15-1.16. It’s difficult to chase the market lower from here given that none of what has transpired since January has looked impulsive. That being said, the recent rally has been equally difficult and overlapping. The next notable resistance is 1.1376; an ABC from the February low. Getting through there might suggest some momentum in the near-term allowing for continuation towards 1.1438 at least. Failure to break 1.1376 does however imply that the recovery is once again corrective/counter-trend. View: Need above 1.1376 to develop momentum. Opens at least 1.1438, with scope to reach ~1.15. Longer-term bearish below 1.1234.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin, Ethereum, Ripple overview: XRP and Bitcoin SV shoot to the moon FX Street 4 years Analysts at Goldman Sachs offer an Elliot wave analysis on the EUR/USD pair, with the upside looking more promising above 1.1376 supply zone. Key Quotes: "EURUSD tested/held strong support at 1.1234. The recovery since then has however been pretty poor. In the broader scheme of things, it's right at the bottom of a range that's held since August last year ~1.12. Range highs are now at 1.15-1.16. It's difficult to chase the market lower from here given that none of what has transpired since January has looked impulsive. That being said, the recent rally has been equally difficult and overlapping.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
