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Elliott Wave Analyst

EUR/USD: wave (iv) coming soon

EUR/USD: wave (iv) coming soon

We’ve got a wedge in wave (i), which led to a decline in wave (iii). However, the current bearish impulse is likely going to end soon. So, if a pullback from 4/8 Murrey Math Level (P=200) happens, there’ll be an opportunity to have an upward correction, which could be wave (iv).

EUR/USD: wave (iv) coming soon

There’s a possible diagonal triangle, which is taking place on the one-hour chart. Therefore, if we see a pullback from 0/8 MM Level, then bulls will probably try to set up a correction. The main intraday target for wave (iv) is 2/8 MM Level.

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