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Elliott Wave Analyst

EUR/USD: bearish impulse in wave c going to move on

EUR/USD: bearish impulse in wave c going to move on

The price has been falling down since a zigzag in wave [x] was formed, which led to a pullback from 5/8 Murrey Math Level (P=200). So, it’s likely that wave (y) of [y] is going to move on in the short term. The main intraday target is 1/8 MM Level.

EUR/USD: bearish impulse in wave c going to move on

As we can see on the one-hour chart, wave b was ended yesterday, so the price is declining. Therefore, bears are likely going to push the market lower during the day. If wave c of (c) finishes on 2/8 MM Level, there’ll be an opportunity to have an upward correction.

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