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Elliott Wave Analyst

EUR/USD: zigzag in wave E going to be continued

EUR/USD: zigzag in wave E going to be continued

There’s a possible zigzag in wave E of (Y), which is taking place on the four-hours chart. So, it’s likely that bulls are going to deliver wave [c] in the short term. The main intraday target is 5/8 Murrey Math Level (P=200). If we see a pullback from it, there’ll be an opportunity to have wave E ended.

EUR/USD: zigzag in wave E going to be continued

As we can see on the one-hour chart, there’s a bullish impulse in wave [a]. Also, we’ve got a zigzag in wave [b], which highlights a possibility to have another bullish impulse in wave [c] of E. If a pullback from +2/8 MM Level happens, bears will probably try to return into the market.

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