This is my Elliott wave idea about EURUSD.
I thought the last wave of the Downtrend would occur.
Last time idea (5th Oct)
But I think the wave C(Black) was completed and switched to a new Uptrend.
I think We are in sub-wave (3) (Red) of wave 1 (Black).
Wave 1(Black) is probably 5 waves impulse.
I will observe if we can break the resistance Line (Black) and if wave 2 can be supported by the resistance Line (Black)
1 Day chart
1 Week chart
I thought the last wave of the Downtrend would occur.
Last time idea (5th Oct)
But I think the wave C(Black) was completed and switched to a new Uptrend.
I think We are in sub-wave (3) (Red) of wave 1 (Black).
Wave 1(Black) is probably 5 waves impulse.
I will observe if we can break the resistance Line (Black) and if wave 2 can be supported by the resistance Line (Black)
1 Day chart
1 Week chart
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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.