Elliott Wave Analysis: EUR/USD Could Face A Reversal In Near-Term
Gregor Horvat | Mar 29, 2017 02:36AM ET
On the updated count of EUR/USD we see price trading in a possible zig-zag correction of a higher degree, with waves A and B already completed. Current intraday weakness may be the first sign of a completed wave C, meaning a three wave reversal to the downside may start to unfold. At the moment we see price trading in the first wave A) or 1). A breach beneath the 1.0760 level would be a confirmation for a completed correction and more weakness to follow.
EUR/USD, 4H
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