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Elliott Wave Analyst

EUR/USD: zigzag in wave (iv) going to move on

EUR/USD: zigzag in wave (iv) going to move on

Bears are developing an impulse in wave [i] on the four-hours chart. However, we’ve got a pullback from 4/8 Murrey Math Level (P=200), so wave (iv) has been started. In this case, the current correction is likely going to be continued, which means we can have a new local high soon.

EUR/USD: zigzag in wave (iv) going to move on

As we can see on the one-hour chart, there’s an ended impulse in wave (iii). Finally, bears faced a support on 0/8 MM Level, which led to form wave a of (iv). Therefore, if wave b ends during the day, there’ll be an opportunity to have wave c of (iv).

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