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Elliott Wave Analyst

EUR/USD: bears going to form wave D

EUR/USD: bears going to form wave D

There’s a possible wave D, which is taking place on the four-hours chart. Previously, the price formed a pullback from 5/8 Murrey Math Level (P=200). So, it’s likely that bears are going to reach 1/8 MM Level in the short term.

EUR/USD: bears going to form wave D

As we can see on the one-hour chart, there’s a double zigzag in wave (x). Also, a bearish impulse in wave a was formed last Friday. In this cast, it’s likely that bulls are going to deliver wave b during the day. If a pullback from 3/8 MM Level happens, there’ll be an opportunity to have wave c of (c).

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