• 526 days Will The ECB Continue To Hike Rates?
  • 526 days Forbes: Aramco Remains Largest Company In The Middle East
  • 528 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 928 days Could Crypto Overtake Traditional Investment?
  • 933 days Americans Still Quitting Jobs At Record Pace
  • 935 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 938 days Is The Dollar Too Strong?
  • 938 days Big Tech Disappoints Investors on Earnings Calls
  • 939 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 941 days China Is Quietly Trying To Distance Itself From Russia
  • 941 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 945 days Crypto Investors Won Big In 2021
  • 945 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 946 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 948 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 949 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 952 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 953 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 953 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 955 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

EURUSD Elliott Wave Analysis: Bearish Wave

EURUSD has turned bearish at the start of January from 1.3900 spike high which we assumed it represents final part of a bullish trend. From there market fell sharply lower almost 400 pips so we assume that pair has completed an ending diagonal. However, a key for a breakdown would be move through the red wave 4) swing low that is placed around 1.3300 figure, still far away from current levels.

EURUSD Daily Elliott Wave Analysis

EUR/USD Daily Elliott Wave Analysis Chart


EURUSD 4h

As expected, the EURUSD has turned down from above 1.3700 area where we labeled end of an expanded flat formation that now shows signs of completion after sharp fall down to 1.3530. Current decline is showing signs of an impulsive pattern so we suspect that EURUSD is heading south. Trend is down as long as 1.3683 remains in place.

EURUSD 4h Elliott Wave Analysis

EUR/USD 4-Hour Elliott Wave Analysis Chart


Elliott Wave Education: Flat Pattern

A Flat is a three-wave pattern labeled A-B-C that generally moves sideways. It is corrective, counter-trend and is a very common Elliott Wave pattern.

Expanded Flat

Elliott Wave Idealized Expanded Flat Chart

  • Structure is 3-3-5
  • Wave B moves beyond the start of wave A
  • Wave C ends more substantially beyond the ending level of wave A
  • Appears in wave two or four in an impulse, wave B in an A-B-C, wave X in a double or triple zig-zag, or wave Y in a triple threes

 


Written by www.ew-forecast.com
Try 14 days trial just for €1 >> www.ew-forecast.com/register

 

Back to homepage

Leave a comment

Leave a comment