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Elliott Wave Analyst

EUR/USD: wave [d] of 4 is about to start

EUR/USD: wave [d] of 4 is about to start

Wave 4 is taking place on the four-hour chart. We’ve got a pullback from 3/8 Murrey Math Level (P=250), so there’s an opportunity to have wave [d] of 4. The main intraday target is 3/8 MM Level, which could set up wave [e] of 4 afterwards.

EUR/USD: wave [d] of 4 is about to start

As we can see on the one-hour chart, the price is trading under 6/8 Murrey Math Level (P=200). Also, there’s an ended impulse in wave (c) of [c]. In this case, bears are likely going to deliver wave [d] of a possible triangle shortly.

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