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Elliott Wave Analyst

EUR/USD: wave v of (c) is about to begin

EUR/USD: wave v of (c) is about to begin

There’s a possible impulse in wave (c) of [y], which is taking place on the four-hour chart. Wave iv is likely going to end shortly, so there’s an opportunity to have an upward movement in wave v of (c). The main target is 6/8 Murrey Math Level (P=300).

EUR/USD: wave v of (c) is about to begin

As we can see on the one-hour chart, wave iv is developing a zigzag. Therefore, wave [C] of iv is likely going to reach 8/8 Murrey Math Level (P=200). If we see a pullback from this level, bulls will probably try to set up wave v of (c).

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