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Elliott Forecast

Daud Bhatti

EURUSD Looking to End Impulsive Rally

November 28, 2023 By

Short Term Elliott Wave in EURUSD suggests rally from 10.4.2023 low is in progress as a . Up from 10.4.2023 low, wave ((i)) ended at 1.0694 and pullback in wave ((ii)) ended at 1.0517. Pair then extended higher in wave ((iii)) towards 1.0965 as the 1 hour chart below shows. Pullback in wave ((iv)) ended at 1.085 with internal subdivision as a zigzag structure.

Down from wave ((iii)), wave (a) ended at 1.0882 and rally in wave (b) ended at 1.0917. Wave (c) lower ended at 1.085 which completed wave ((iv)) in higher degree. Pair has turned higher in wave ((v)), but it has yet to break above wave ((iii)) at 1.0965 to rule out a double correction. Up from wave ((iv)), wave (i) ended at 1.093 and pullback in wave (ii) ended at 1.0886. Wave (iii) higher ended at 1.0959 and pullback in wave (iv) ended at 1.09243. Near term, as far as pivot at 1.085 low stays intact, expect dips to find support in 3, 7, or 11 swing and pair to extend higher in wave ((v)). Potential target higher is 123.6% – 161.8% inverse retracement of wave ((iv)) at 1.099 – 1.103

EURUSD 60 Minutes Elliott Wave Chart

EURUSD Elliott Wave Video

Source:-forecast.com/news/eurusd-looking-end-impulsive-rally/

28/11/2023 1 EN

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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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Daud Bhatti

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