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Elliott Wave Analyst

EUR/USD: diagonal triangle

EUR/USD: diagonal triangle

There’s a bearish impulse in wave [i], which is taking place on the four-hours chart. It’s likely that wave (v) is going to be continued in the short term. If a pullback from 3/8 Murrey Math Level (P=200) happens, there’ll be an opportunity to have a bullish correction.

EUR/USD: diagonal triangle

Considering that the last wave i is a zigzag, there’s a chance to have a diagonal triangle in wave (v). Meanwhile, wave ii is likely going to end in the coming hours, so wave iii could be started soon. The main intraday target is -2/8 MM Level.

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