Forex Trading Analysis
Hello Guys Monday, August 19th, 2024 I am going to analyze the EURUSD currency pair let start the top-to-bottom Elliot wave analysis inside the daily time frame the trend is down in euro dollar currency here daily time frame resistance is present at 1.138 price level price action is most likely going to move sideways to complete bullish wave Btriangle Elliot wave pattern after that I expect bearish wave C zigzag corrective leg incoming trading days decisive bullish breakout above 1. 138 resistance area is going to end down Trend in the daily chart of Euro versus United States dollar currency pair
At 4hour time frame price action is sprinting higher swing highs and higher swing lows to me euro-dollar pair Trend looks up in 4hour time frame
At 1 hour time frame the trend is down in 1 hour chart intraday resistance is present at 1.10 46 price level price action is most likely L going to drop to print bearish wave three impulse leg which offers a chance to join the downtrend in euro dollar pair decisive bullish breakout above 1.1046 resistance level is going to and downtrend in 1-hour chart of Euro versus United States dollar currency pair
more specifically the red color highlighted area offers a selling opportunity which is the previous second wave one lesser
