Sunday, April 16, 2017

#EURUSD 4 HR Elliott Wave Count

#EURUSD 4 HR Elliott Wave Count

Trade Thoughts:  Short against 1.0906 - preferably closer to 1.077 area.  

Targets: Below 1.03400

The EURUSD is coming out of a 4th or B wave triangle.  The 1st wave down out of the triangle looks to be a leading diagonal which are more common in a waves than in 1st waves.  Price has since bounced in a 3 wave pattern to test wave (ii) or the leading diagonal followed by what looks to be an impulse wave down.  A 3 wave move back up to the 1.07750 are may be another 2nd wave with a strong 3rd wave to follow. 

EURUSD 4 HR Elliott Wave Count

EURUSD 4 HR Elliott Wave Count
                                            EURUSD 4 HR Elliott Wave Count