Good morning traders,
On the daily chart of EURUSD we see that price can be ending a big, bearish ending diagonal within sub-wave 5) of A near the 1.100 region, and can once completed push price into a three-wave A)-B)-C) correction towards 1.141 or higher 1.181 region.
A rally above the upper EW ending diagonal line would confirm a completed wave A, and wave B in progress.
On the 4h chart we have a closer look at the turning point near the 1.092 area. We can see a completed w-x-y decline within wave 5 of 5), which suggest more upside in upcoming sessions. We are tracking a three-wave rise with wave a)/i) unfolding. Once the following wave b)/ii) correction fully develops, that is when a break above the 1.116 area may follow into wave c)/iii).
If you like what we do, then you can subscribe to our webpage at EW-Forecast. Also we have a special TRIAL offer for Crypto services and for FX services.
By using www.ew-forecast.com 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.ew-forecast.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.