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Elliott Wave Analyst

EUR/USD: bulls ready to deliver wave E

EUR/USD: bulls ready to deliver wave E

Wave D is taking form of a double zigzag. Previously, a triangle has been formed in wave [x]. Therefore, it’s likely that wave (c) of [y] is going to end soon, so there’s an opportunity to have wave E of (Y) afterwards.

EUR/USD: bulls ready to deliver wave E

As we can see on the one-hour chart, there’s a bearish impulse in wave (c). In this case, if a pullback from -1/8 Murrey Math Line (P=200) happens, bulls are likely going to deliver another upward price movement. 

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