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EURUSD: Price In A Corrective Bounce

EURUSD is trading higher at the moment after the price broke above the trendline connected from 1.1714 swing high. Usually when this happens it suggests two things; first that trend is changing or second, that move from the low is going complex. In our case we believe it's a complex correction from 1.1080 which still can be a three wave move, currently with wave C) headed higher to re-test1.1460 from where price may turn lower this week.

EURUSD, 4h

EURUSD, 4-Hour Elliott Wave Chart

 


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