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Elliott Wave Analyst

EUR/USD: "Diagonal Triangle" in wave v of (c) going to end

EUR/USD: "Diagonal Triangle" in wave v of (c) going to end

Wave v of (c) is going to end. So, if we see a pullback from +2/8 Murrey Math Level (P=200), there’ll be an opportunity to have a decline. On the other hand, if this level appears to be broken, bulls will try to deliver an extension in wave iii of (c).

EUR/USD: "Diagonal Triangle" in wave v of (c) going to end

As we can see on the one-hour chart, there’s a possible “Diagonal Triangle” in wave v of (c). Therefore, if we have a pullback from the upper side of this pattern, there’ll be a confirmation that the current bullish impulse is over.

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