The trend is bearish on EUR/USD currency pair, 15 minutes time frame. As I have suggested, the market is falling down on a short-term basis after printing a bullish Zig Zag Elliott wave pattern and traders should look for a sell trade. So, all those Forex traders who have followed my Elliott Wave analysis have made the right decision as the price has descended. Strong key resistance level is present at 1.1256 price level.
In my judgment, price action in EUR/USD currency pair is now going to drop more towards 1.1135 price area to print another corrective Elliott Wave Zig Zag. The current market action offers us a possible sell trading chance to join the downtrend in the next coming trading hours.
Currently, the drop just started in EUR/USD currency pair and expect the market to fall down more. A good idea is to take a short trade at the market or sell at the breakdown of a bullish green color trend channel to join the downtrend. However; if the price of EUR/USD currency pair breaks above 1.1256 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.
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