Using the Elliott Wave Principle on the EUR/USD currency pair, we observe the formation of an impulsive bullish wave pattern labeled 1-2-3-4-5. Currently, the price is in the corrective Wave 4, located at 1.07345, which corresponds to the 0.382 Fibonacci retracement level. It’s anticipated that the price may reach the 0.5 Fibonacci level at 1.07108 before initiating the impulsive Wave 5. This final wave has the potential to extend to 1.08233 or even 1.08782, aligning with the 1.618 Fibonacci extension
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.