EUR/USD Elliott Wave analysis: Bears target to 1.1530 level

Gregor Horvat Wavetraders

EURUSD intraday is slow, likely still in a corrective mode that can cause another drop early this week.

On 4h EURUSD is coming down, breaking sharply below August levels meaning that bears are still in play, likely forming an extension from 1.1755, maybe even fifth wave targeting 1.1530 area.

So for now, trend is bearish and it will stay unchanged unless we see five wave rally from the low and back above 1.660.

EUR/USD 4h Elliott Wave analysis

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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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