Elliott wave Analysis: EUR/USD Update

Gregor Horvat Wavetraders

Hi traders,

EURUSD is nicely trading lower, now breaking below the 1.142 bearish level which indicates a completed correction and a minimum three-wave drop in play. At the moment we see price unfolding wave i of C, which can look for support and a temporary corrective recovery near the Fibonacci projection zone of 261.8 and at the lower channel line.

EURUSD, 4h

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Author

Gregor Horvat

Wavetraders

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

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