EUR/USD Elliott Wave: Key Waves & Trade Opportunities
EURUSD EUR/USD Elliott Wave: Key Waves & Trade OpportunitiesElliott Wave Analysis for EUR/USD
Identified Elliott Wave Patterns:
Primary Wave Degree:
Wave 1: Starts at the high around 1.0500 (early December) and ends at the low around 1.0300 (mid-December).
Wave 2: Corrective wave retraces to around 1.0450 (late December).
Wave 3: Impulsive wave drops to around 1.0200 (early January).
Wave 4: Corrective wave retraces to around 1.0300 (mid-January).
Wave 5: Potential completion around 1.0175 (late January).
Intermediate Wave Degree:
Wave (i): Starts at the high around 1.0450 and ends at the low around 1.0300.
Wave (ii): Corrective wave retraces to around 1.0350.
Wave (iii): Impulsive wave drops to around 1.0200.
Wave (iv): Corrective wave retraces to around 1.0275.
Wave (v): Potential completion around 1.0175.
Minor Wave Degree:
Wave (a): Starts at the high around 1.0300 and ends at the low around 1.0200.
Wave (b): Corrective wave retraces to around 1.0250.
Wave (c): Potential completion around 1.0175.
Potential Future Price Movements:
Based on the identified Elliott Wave patterns, the EUR/USD pair is likely to complete the final wave of the primary degree around 1.0175. After this, a corrective wave (Wave A) could push the price back up to around 1.0300, followed by another impulsive wave (Wave B) down to around 1.0150, and finally a corrective wave (Wave C) up to around 1.0350.
Trade Recommendations:
Long Position:
Entry Point: 1.0175
Stop-Loss: 1.0150
Take-Profit: 1.0300
Risk to Reward Ratio: 1:2
Short Position:
Entry Point: 1.0300
Stop-Loss: 1.0350
Take-Profit: 1.0150
Risk to Reward Ratio: 1:2
Specific Price Levels:
Here are the key Fibonacci levels and support/resistance levels:
Fibonacci Levels:
0.382: 1.0400
0.5: 1.0350
0.618: 1.0300
0.705: 1.0275
0.786: 1.0250
Resistance Levels:
1.0500
1.0450
1.0400
Support Levels:
1.0350
1.0300
1.0250
1.0200
1.0175
1.0150
Alex Gold Hunter
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Alex Gold Hunter
Free Signals & analysis
Join for Free
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bit.ly/4fQGd0G
bit.ly/3ODlUI4
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
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