Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of EURUSD, published in members area of the website. As our members know the pair is showing incomplete bearish sequences in the cycle from the July 18th peak targeting 1.0435-1.0318 area. Consequently, we recommended members to avoid buying at this stage and calling for the further decline. Recently EURUSD made a pull back that has found sellers right at the equal legs area.
EURUSD H1 Weekend Update 09.30.2023
EURUSD has given us 3 waves bounce in wave ((iv)) recovery. The pair has made clear 3 waves up and reached equal legs area at 1.05873-1.06310. Sellers appeared as expected and we can already see reaction from the equal legs area. Correction is counted completed at 1.06165 peak as Elliott Wave Zig Zag Pattern.
EURUSD H1 Weekend Update 10.02.2023
The price kept 1.06165 peak intact and we got further separation lower. As far as the price stays below 1.06174 high, we expect the pair to keep trading lower in wave ((v)) , targeting 1.0458-1.0409 area. We would like to see break of 09/28 low to confirm extension down toward mentioned zone.
