EURUSD has been digging lower since January 2021. It appears this 10-month bearish wave is about to end as we can count the minimum waves in place.
The 10-month Elliott wave pattern would be considered a double zigzag labeled ((w))-((x))-((y)).
Each of the waves ((w)) and ((y)) are zigzag patterns. Additionally, the whole pattern has retraced back to 1.16 which contains the previous fourth wave (not shown).
As a result, this wave lower in 2021 is about to turn higher. When it does, we should see a multi-month rise that pushes above 1.23
The 10-month Elliott wave pattern would be considered a double zigzag labeled ((w))-((x))-((y)).
Each of the waves ((w)) and ((y)) are zigzag patterns. Additionally, the whole pattern has retraced back to 1.16 which contains the previous fourth wave (not shown).
As a result, this wave lower in 2021 is about to turn higher. When it does, we should see a multi-month rise that pushes above 1.23
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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.
Are you ready to learn Elliott Wave? Take our Free Elliott Wave Readiness Assessment: bit.ly/EWreadinessquiz2
seethewaves.com - A school to learn how to read charts & Elliott Wave Theory.
seethewaves.com - A school to learn how to read charts & Elliott Wave Theory.
Disclaimer
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.