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Elliott Wave Analyst

EUR/USD: wave v of (c) is on the way

EUR/USD: wave v of (c) is on the way

Bulls have came back into the market. It’s likely that yesterday wave iv was formed, so the price is currently rising in wave v of (c). Therefore, buyers are going to break wave’s 3 high very soon. The main intraday target is 7/8 Murrey Math Level (P=200).

EUR/USD: wave v of (c) is on the way

As we can see on the one-hour chart, there’s a zigzag in wave iv. Also, we’ve got an upward impulse in wave [1], which confirms the beginning of wave v of (c). So, the next bullish target is +1/8 Murrey Math Level (P=200), which could be a departure point for wave [4].

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