EURUSD Elliott Wave Analysis

in eurusd •  3 years ago 

The USD is seen in a bullish structure vs other major currencies, so we should be aware of more risk-off in the near-term. DXY shows consolidation as a correction so more upside can be seen soon.

EURUSD is coming sharply down due to the situation in Ukraine, and it seems that the pair is in an impulsive sell-off with room for more weakness after rallies. We see pair bottoming for wave 3 so bounce can be wave 4 which can stop at the broken channel line that can turn into resistance near 1.10950-1.1.
EURUSD 4h Elliott Wave Analysis

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