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Elliott Wave Analyst

EUR/USD: "triangle" is on the eve of completion

EUR/USD: "triangle" is on the eve of completion

There’s a possible triangle in wave [x], so if we see a pullback from the upper side of this pattern, bears are likely going to deliver wave [y] of D. Therefore, we should keep an eye on 1/8 Murrey Math Level (P=200) as a possible intraday target.

EUR/USD: "triangle" is on the eve of completion

As we can see on the one-hour chart, we’ve got a zigzag in wave (d). In this case, wave (e) is likely going to end soon. If we have a pullback from 5/8 MM Level, then there’ll be an open door for wave (a).

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