EURUSD made a new high at 1.3810 from where we can see a sharp reversal to the downside so we assume that five wave rally in wave C is complete. However, current decline can still be wave four of a higher degree, so before we may confirm larger trend reversal on EUR we need 1.3576 overlap to invalidate any impulsive bullish wave structure which was also highlighted in one of our recent video.
EURUSD 4h Elliott Wave Analysis
On EURUSD we are still waiting on that three wave rally that could be seen next week. Ideally we will get a retracement back to 1.3700/30 area where former swing lows will turn into a resistance. We would be interested to go short in this area.
EURUSD Intraday Elliott Wave Analysis
Written by www.ew-forecast.com