Sat, Oct 23, 2021 @ 18:33 GMT
HomeContributorsTechnical AnalysisEUR/USD Elliott Wave Analysis: Recovery In Progress

EUR/USD Elliott Wave Analysis: Recovery In Progress

EURUSD is coming down, hitting some resistance now despite worse than expected US NFP report on Friday. EURUSD currency pair has support at daily 50 SMA (Simple Moving Average) around 1.18 level, at the former wave four.

As per Elliott Wave analysis, EURUSD has completed 5 waves move from 1.2266 to 1.1663 level in an impulsive wave structure. Now the EURUSD currency pair is recovering and unfolding wave A/1.

EUR/USD 4h Elliott Wave analysis chart

Elliott Wave Financial Servicehttp://www.ew-forecast.com/
Trading forex, futures or futures options carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.

Featured Analysis

Learn Forex Trading