EURUSD has been in a bearish impulsive wave since summer 2021 and I believe we have come to the end of our bearish wave which is where we should be seeing a correction form.
I am anticipating a ABC correction to form before seeing any more weakness from EURUSD .
- Elliot bearish wave has come to an end and we are now in a correction.
- We have rejected our fibonacci level perfectly as anticipated.
- We can see the 1HR EMA is being respected on the downtrend, we can use this as a confirmation of bullishness as this will confirm a change in direction.
We are looking for a break of the 1HR EMA /WFB trendline or BOTH! Using both will give you the strongest confirmation.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Like this article? Show your appreciation by sending a tip to the author.
Leave Your Message Now