Share:

Euro is trading higher, it’s recovering with sharp reaction higher since US CPI came lower than expected for October. We see price making extension within wave (3) of a new bullish sequence, which is our primary look because of a broken base channel. So euro can strengthen further, but be aware of some intraday 4th wave pullback from the current Fib resistance here at 1.1050 – 1.1100 area. Also, if the price stays in an uptrend with the current sharp rise, then a higher degree correction from the 2023 highs can be finished. A break below 1.070 will be again bearish for the euro.

EURUSD

For a detailed view and more analysis like this, you may want to watch our latest recording of a live webinar from November 27 below:


Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.

Share: Feed news

By using Wavetraders website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.wavetraders.com are provided for informational and educational purposes only!

By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

EUR/USD trades firmer above 1.0800 ahead of Eurozone PMI data

EUR/USD trades firmer above 1.0800 ahead of Eurozone PMI data

EUR/USD is extending gains above 1.0800 in the European morning on Thursday. A broadly subdued US Dollar and US Treasury bond yields, amid a risk-on mood, are helping the pair ahead of the top-tier preliminary PMI data from the Eurozone and the US. 

EUR/USD News

GBP/USD trades with modest gains near 1.2650, awaits UK, US PMIs

GBP/USD trades with modest gains near 1.2650, awaits UK, US PMIs

GBP/USD posts mild gains to trade near mid-1.2600s in early Europe on Thursday. The pair is finding support from a weaker US Dollar and an improved risk appetite. All eyes now remain on the UK and the US flash PMI data for fresh trading impetus. 

GBP/USD News

Gold eyes a fresh uptrend on a sustained move above $2,035

Gold eyes a fresh uptrend on a sustained move above $2,035

Gold price has resumed its bullish momentum near $2,030 early Thursday, having paused its recovery rally on Wednesday. A risk-on market environment is acting as a headwind for the US Dollar, despite the hawkish US Fed January meeting Minutes.

Gold News

Sei price deviation below range high may mean only one thing for SEI holders – 18% crash

Sei price deviation below range high may mean only one thing for SEI holders – 18% crash

Sei (SEI) price has had a shocking and awe-inspiring rally over the past few weeks and has raked in 345% gains in the past two months. But the recent developments suggest SEI could be ready to slide lower.

Read more

NVDA Q4 results trounce consensus

NVDA Q4 results trounce consensus

Nvidia beat earnings consensus from Wall Street by a large margin on Wednesday, and the stock jumped more than 3% afterhours. Consensus had been $4.64 in adjusted EPS for the quarter ending in December, but Nvidia posted $5.16.

Read more

Majors

Cryptocurrencies

Signatures