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Elliott Forecast

Eric Morera

Elliott Wave View: $EURUSD Rallying in Zigzag

May 20, 2022 By

Short Term Elliott Wave View in EURUSD suggests the decline from February 10, 2022 peak is unfolding as a 5 waves impulse Elliott Wave structure. Down from February 10, wave (1) ended at 1.0806 and rally in wave (2) ended at 1.1185. Pair then resumes lower in wave (3) and ended at 1.0348. Wave (4) corrective rally is presently in progress with internal subdivision as a .

Up from wave (3) low on May 13, wave ((i)) ended at 1.04384 and dips in wave ((ii)) ended at 1.0388. Pair then extends higher in wave ((iii)) towards 1.0555, dips in wave ((iv)) ended at 1.0519 and final leg wave ((v)) ended at 1.0563 which completed wave A. Pullback in wave B ended at 1.0457. Pair has resumed higher in wave C with potential target at 100% – 161.8% Fibonacci extension of wave A at 1.067 – 1.08. Near term, as far as pivot at 1.0457 low stays intact, expect dips to find support in 3, 7, 11 swing for further upside.

EURUSD 1 Hour Elliott Wave Chart

EURUSD Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-eurusd-rallying-zigzag/

#elliottwave #trading #eurusd

20/05/2022 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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Eric Morera

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