EUR/USD looks to move higher towards 1.19 level

Gregor Horvat Wavetraders

On 4h chart of EURUSD we can see that price has turned lower in the last few days following that recovery from 1.1663 that we labeled as wave A/1, so current retracement is normal, ideally wave B/2 which is already made by three waves back to 61.8% so bulls may come back very soon., A daily close above 1.1840 will likely confirm a resumption of an uptrend back above 1.19.

EUR/USD 4h Elliott Wave analysis chart

Technically EURUSD is moving higher from lower Bollinger band and RSI is forming bullish divergence on 4h chart, looks like recent corrections approaches the support.

EUR/USD 4h chart

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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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