Elliott Wave View: EURUSD Trading In A Bullish Impulse; Final Wave In Progress

Good day traders!
Today’s article is about EURUSD and its daily time frame.

Daily chart of EURUSD shows us a five-wave bullish impulse in progress since December of 2017. We know that an impulse is a five-wave pattern, which means in our case one more wave up must unfold for completion. That said, we can see 4 waves fully unfolded, with corrective wave 4 being the last one, that found suppoer near the upper base line. Recovery that followed from 1.1560 region is a sign for more upside to follow within black wave 5 of C). On that note Fibonacci projection target at 61.8 can be reached in days or weeks ahead.

EURUSD, Daily

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.