• 526 days Will The ECB Continue To Hike Rates?
  • 527 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?
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…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

  1. Home
  2. Markets
  3. Other

EURUSD Elliott Wave Analysis: Heading Much Lower

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 trough 1.3500. A decline is showing signs of an impulsive price action so we suspect that EURUSD is heading much lower. Trend is down as long as 1.3683 remains in place, while any rallies should find resistance in 1.3540/1.3600 zone.

EURUSD 4h Elliott Wave Analysis

EURUSD 4-Hour Elliott Wave Analysis Chart


EURUSD 1h

EURUSD on the other hand, did not move much in the last few sessions which was expected as we were looking for a wave iv) pullback up to 1.3530/60. If we take a look closely at the substructure from the latest low we can see an overlapping price action, which is personality of a corrective rally so we think that pair will turn back to the lows in sessions ahead. Resistance or swing region for wave iv) remains at 1.3530-1.3570.

EURUSD 1h Elliott Wave Analysis

EURUSD 1-Hour Elliott Wave Analysis Chart

 


Written by www.ew-forecast.com
14 days trial just for €1 >> Register Now

 

Back to homepage

Leave a comment

Leave a comment