Elliott Wave Analysis: EURUSD Could See A Nice Reversal In The Next Few Sessions

Gregor Horvat Wavetraders

On the 4h chart of EURUSD we are observing a three wave move developing in wave 4), with price now particularly trading in sub-wave C. As we can see on the updated count, wave C could unfold as an ending diagonal, a powerful reversal pattern that can after its completion cause a sharp reversal lower into wave 5). Decline below wave four swing support and then towards 1.0454 level would suggest lower levels to follow.

EURUSD, 4H

Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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