EUR/USD ELLIOTT WAVE ANALYSIS

EUR-USD ELLIOTT WAVE ANALYSIS

Both EUR/USD and DXY broadened their third waves towards US Dollar shortcoming. EUR/USD turned comfortable 2.618 expansion, which is a typical wave relationship for third waves. We think both EUR/USD and DXY are in wave (iii) of v in an Elliott Wave motivation design. That infers we are suspecting a tad of EUR/USD shortcoming that may drop to 1.2170-1.2230 to complete wave (iv). At that point, we are reckoning another keep running towards the 1.25-1.26 highs. The last high in wave (v) would complete a three year long Elliott Wave extended level example on EUR/USD.

EUR/USD ELLIOTT WAVE ANALYSIS

The inverse would be valid for US Dollar Index in that a recuperation to close to 90-91 is typical inside this setting of the wave example to complete wave (iv). Source