Elliott wave count for EURUSD

Good morning to all. Today I chose to post my longer-term elliott wave most probable scenarios for EURUSD. Both imply more upside to come over the coming months.

Once again EURO skepticism has risen once EURUSD fell back towards 1.12-1.13….once again we see parity scenarios and destruction of the EUROZONE and its currency…as we were seeing back when EURO was at 1.05…..The form of the rise from early 2017 to the highs at 1.2550 on February of 2018, make me believe that the upside is not over for the Euro. Price has pulled back towards the critical and most important Fibonacci retracement level. We now see price break above Daily Ichimoku cloud and above downward sloping trend lines where once got several rejections. It is key for this bullish scenario we have to also see impulsive moves higher. There is no confirmation of a trend reversal yet, but price seems supported and ready to start a sequence of higher highs and higher lows.

 

My short-term analysis on EURUSD can be found here through my partnership with Instaforex.

 

Have a great day everyone and happy weekend!!!

 

 

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