EUR/USD Elliott Wave View: Still Trading Sideways
Elliott Wave Forecast | Apr 20, 2018 01:11AM ET
Short-term EUR/USD Elliott Wave view suggests that the pair remains in a sideways triangle range between 1.2554 and 1.2153 levels as mentioned in the previous post zigzag Elliott Wave structure where Intermediate wave (A) ended at 1.2396. Afterwards, Intermediate wave (B) pullback ended at 1.2298 low and Intermediate wave (C) of ((D)) ended at 1.2414 high. Down from there, Primary wave ((E)) of IV remains in progress as double three Elliott Wave structure looking to end Intermediate wave (W) of ((E)) in 3 swings at 1.2320-1.2301 100%-123.6% Fibonacci extension area of Minor A-B. Pair should then correct in Intermediate wave (X) of ((E)) and ideally fail below 1.2414 for another extension lower before a thrust higher is seen. We don’t like selling the pair.
EUR/USD Elliott Wave 1 Hour Chart
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