EURUSD - The downtrend is over! New bull market + Elliott Wave
- EURUSD successfully maintained the 1.0 USD level.This is a significant psychological level!
- As per my Elliott Wave analysis, this huge downtrend should be over, and now I expect a corrective move to the upside.
- An impulse Elliott Wave has been successfully completed. Let's see how big this correction is going to be.
- On the daily chart, we can spot a beautiful descending parallel channel, and I think the bulls can step in to destroy this pattern!
- As you can see on the chart, we had 2 fakeouts during this downtrend and this indicated a corrective move. Usually, the third breakout is real!
- The profit target is at 0.618 FIB + the start of wave 4.
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