Elliott Wave Analysis: EURUSD Could Charge Lower 

4h eurusd analysis

Gregor - Author BIO photoElliott Wave Analysis: EURUSD Could Charge Lower

EURUSD touched a new high last week ahead of FOMC press conference, but then it turned sharply lower from 1.1300 area that we highlighted it as an important resistance region. An updated count shows an ending diagonal on 4h chart placed in wave C; a powerful reversal pattern that can cause a strong drop for this month with minimum three waves down. Currently we see price trading at the start of wave C)/3), with Fibonacci projection zone of 261.8.


4h eurusd analysis


Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.



By Gregor Horvat

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