• 287 days Will The ECB Continue To Hike Rates?
  • 287 days Forbes: Aramco Remains Largest Company In The Middle East
  • 289 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 689 days Could Crypto Overtake Traditional Investment?
  • 694 days Americans Still Quitting Jobs At Record Pace
  • 696 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 699 days Is The Dollar Too Strong?
  • 699 days Big Tech Disappoints Investors on Earnings Calls
  • 700 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 702 days China Is Quietly Trying To Distance Itself From Russia
  • 702 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 706 days Crypto Investors Won Big In 2021
  • 706 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 707 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 709 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 710 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 713 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 714 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 714 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 716 days Are NFTs About To Take Over Gaming?
Trade In Counterfeit Goods Hits Half A Trillion Dollars

Trade In Counterfeit Goods Hits Half A Trillion Dollars

The counterfeit market has breached…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

  1. Home
  2. Markets
  3. Other

EUR/USD Elliott Wave Analysis

Daily Chart:

EUR/USD Daily Chart
Larger Image


4HR chart:

EUR/USD 4-Hour Chart
Larger Image


30 min chart:

EUR/USD 30-Minute Chart
Larger Image

My Bias: short in wave 3 blue.
Wave Structure: downward impulse wave 1, 2 blue
Short term wave count: lower in wave 3 green
Long term wave count: lower in wave 3 blue
Important risk events:  EUR: N/A. USD: ADP Non-Farm Employment Change, Unemployment Claims, ISM Non-Manufacturing PMI, Crude Oil Inventories.

Hi everyone.

EURUSD followed yesterdays analysis to a T!
Now it gets very interesting in terms of the current wave count.

Of the November high at 1.1295,
- We have a complete wave 1,2 down in blue,
- a complete wave (i), (ii) down in green
- and a possibly completed wave 'i,ii' down in brown.

If this wave interpretation correct here the potential for an acceleration to the downside is very large here.

I expected a rally in wave ii brown yesterday, and today we got it.
That rally reached the 50% retracement of wave 'i' brown, at todays high.
So far, that key level I mentioned seems to have stalled progression.

The invalidation point for this short term elliott wave count is at 1.0650.
So I want to see a turn lower before that point.

Now, it is time to get eyes on, to see if we get a turn down and the formation of a lower high, below todays high, which will offer a low risk short opportunity.

That could occur tomorrow, but, be aware that tomorrow is a big data day for the dollar, the reaction to this data could cause a whipsaw in the price action.

 

Back to homepage

Leave a comment

Leave a comment