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Elliott Forecast

Daud Bhatti

EURUSD Starts New Bullish Cycle

July 11, 2023 By

Short term Elliott Wave view in EURUSD shows a bullish sequence from 6.1.2023 low. Rally from there is in progress as a 5 waves impulsive structure. Up from 6.1.2023 low, wave 1 ended at 1.1012 and dips in wave 2 ended at 1.0833. Internal subdivision of wave 2 unfolded as a . Down from wave 1, wave ((w)) ended at 1.0843 and rally in wave ((x)) ended at 1.0976. Wave ((y)) lower ended at 1.0832 which also completed wave 2. Pair has since turned higher in wave 3.

Up from wave 2, wave i ended at 1.09 and pullback in wave ii ended at 1.0833. Pair resumes higher in wave iii towards 1.0973 and dips in wave iv ended at 1.094. Pair resumes higher again in wave v and expected to complete wave (i) soon. Once wave (i) is complete, pair should pullback in wave (ii) to correct cycle from 7.6.2023 low in 3, 7, or 11 swing before the rally resumes again. As far as pivot at 1.083 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

EURUSD 60 Minutes Elliott Wave Chart

EURUSD Elliott Wave Video

Source:-forecast.com/news/eurusd-starts-new-bullish-cycle/

11/07/2023 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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Daud Bhatti

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