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Elliott Forecast

Eric Morera

Elliott Wave Expects EURUSD to Turn Higher

Short Term Elliott Wave in EURUSD suggests cycle from 4.16.2024 low is in progress as a . Up from 4.16.2024 low, wave 1 ended at 1.0916. Pullback in wave 2 ended at 1.0664 as the 1 hour chart below shows. Pair has turned higher in wave 3. However, it still needs to break above wave 1 at 1.0916 to validate the bullish view and creates a bullish sequence. Up from wave 2, wave i ended at 1.0776 and pullback in wave ii ended at 1.0709. Pair then resumed rally higher in wave iii towards 1.0817 and pullback in wave iv ended at 1.0777.

Expect pair to extend higher in wave v to complete wave (i) in higher degree. Afterwards, pair should pullback in wave (ii) to correct cycle from 6.26.2024 low before it resumes higher again. Near term, as far as pivot at 1.066 low stays intact, pullback should find support in 3, 7, or 11 swing for further upside. Potential target for wave 3 higher is 100% – 161.8% Fibonacci extension of wave 1. This area comes at 1.0982 – 1.1177.

EURUSD 60 Minutes Elliott Wave Chart

EURUSD Elliott Wave Video

Source:-forecast.com/news/elliott-wave-expects-eurusd-turn-higher/

05/07/2024 1 EN

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Elliott Forecast

Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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