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Elliott Wave Analyst

EUR/USD: wave [B] going to be continued

EUR/USD: wave [B] going to be continued

The last upward price movement has changed the main wave count. It’s likely that wave [B] is going to be continued. As you can see on the daily chart, a “Double Three” is possibly taking place with a “Triangle” in wave (Y). The nearest target is 5/8 Murrey Math Level (P=200), which could be a departure point for wave D of (Y).

EUR/USD: wave [B] going to be continued

The price has been rising since a zigzag in wave (b) was ended. We’ve got a bullish impulse in wave (с) of [y] in progress, which inner wave's structure points to an opportunity to have more bullish pressure during the day. The main target for wave (c) is 6/8 Murrey Math Level (P=300).

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