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Elliott Wave Analyst

EUR/USD: "Triangle" going to move on

EUR/USD: "Triangle" going to move on

There’s a possible “Triangle”, which is a part of a “Double Three” pattern. Therefore, it’s likely that bulls are going to test the upper side if this “Triangle” soon. If a pullback happens, there’ll be an opportunity to have a new bearish trend.

EUR/USD: "Triangle" going to move on

Wave D was ended in a form of a “Double Zigzag” yesterday, so the price is rising. So, wave [a] of E is likely going to end soon, which could bring a local downward correction. The main target for wave E of (Y) is 5/8 Murrey Math Level (P=200).

EUR/USD: "Triangle" going to move on

We’ve got a bullish impulse, which is taking place on the one-hour chart. There’s a possible extension in wave (iii) of [a]. In this case, bulls are likely going to deliver a couple of new highs during the day. If we see a pullback from +1/8 MM Level, bears will probably try to deliver wave [b] of E

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