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Elliott Wave Analyst

EUR/USD: bulls going to deliver wave E

EUR/USD: bulls going to deliver wave E

As we can see on the four-hours chart, wave D has been ended in a form of a double zigzag. Moreover, we’ve got a pullback from 0/8 Murrey Math Level (P=200), which points to a possibility to have wave E of (Y) in the short term. The main intraday target is 6/8 MM Level.

EUR/USD: bulls going to deliver wave E

There’s a zigzag, which was formed in wave [y] of D. Also, we’ve got an upward impulse in wave [a], so bears are likely going to deliver wave [b] during the day. If we see a pullback from 2/8 MM Level, there’ll be an opportunity to have wave [c] of E shortly. 

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