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Elliott Wave Analyst

EUR/USD: wave [c] of E is about to start

EUR/USD: wave [c] of E is about to start

We’ve got a possible triangle in wave (Y), which is likely going to be continued. So, there’s an opportunity to have wave [c] of E in the short term. The main intraday target is 6/8 Murrey Math Level (P=200), which could reverse the price movement into a bearish direction.

EUR/USD: wave [c] of E is about to start

As we can see on the one-hour chart, wave [b] was probably ended yesterday. Previously, we’ve got a bullish impulse in wave [a]. Therefore, bulls are likely going to deliver wave [c] of E, so we can have a new high very soon.

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