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Elliott Wave Analyst

EUR/USD: bears going to develop "Wedge"

EUR/USD: bears going to develop "Wedge"

We’ve got a possible wedge in wave (a), which was started after two pullbacks from 6/8 Murrey Math Level (P=200). So, it’s likely that wave v of (a) is going to be continued in the short term. The main bearish intraday target is 1/8 MM Level.

EUR/USD: bears going to develop "Wedge"

Wave iv was ended in a shape of a zigzag, which led to form a downward impulse in wave [1]. So, wave [3] is likely going to move on in the direction of -1/8 MM Level. If we see a pullback from it, there’ll be an opportunity to have wave [4] of v.

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