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Elliott Wave Analyst

EUR/USD: "triangle" going to end

EUR/USD: "triangle" going to end

There’s a possible triangle in wave [x], so bears are likely going to deliver wave [y] of D. Previously, we’ve got a pullback from 5/8 Murrey Math Level (P=200). So, we should keep an eye on 1/8 MM Level as a possible intraday target.

EUR/USD: "triangle" going to end

As we can see on the one-hour chart, here’s a zigzag in wave (e) of [x]. Therefore, if the pair finds a lodgement under 3/8 MM Level, there’ll be an opportunity to have another decline towards 1/8 MM Level.

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