EUR/USD – Bullish Wave & Invalidation Zone
EUR/USD – Bullish Wave & Invalidation Zone 🚀
Hello traders! 👋
This is an updated Elliott Wave analysis for the EUR/USD market. Based on the weakness of DXY, I am sharing an aggressive bullish idea. However, if the price fails to break key levels and forms a corrective structure, it could indicate USD strength, leading to a bearish reversal.
🔹 Bullish Scenario (Aggressive Idea)
If the market confirms bullish price action and breaks out of the top channel, we can anticipate a wave C impulse, targeting 1.12523 (first range) and potentially 1.19160 (extended range).
🔹 Conservative Approach
A confirmed breakout with price action alongside a corrective structure will strengthen this scenario. Historically, in Wave A, we saw two 1-2 setups before a third-wave impulse, and history may repeat itself.
🔻 Key Invalidation Level: $1.01763
If the price fails to break resistance and moves downward, this analysis will be invalidated, signaling USD strength and a bearish market shift.
💬 What’s your view on this scenario? Let’s discuss in the comments! 👇
Hello traders! 👋
This is an updated Elliott Wave analysis for the EUR/USD market. Based on the weakness of DXY, I am sharing an aggressive bullish idea. However, if the price fails to break key levels and forms a corrective structure, it could indicate USD strength, leading to a bearish reversal.
🔹 Bullish Scenario (Aggressive Idea)
If the market confirms bullish price action and breaks out of the top channel, we can anticipate a wave C impulse, targeting 1.12523 (first range) and potentially 1.19160 (extended range).
🔹 Conservative Approach
A confirmed breakout with price action alongside a corrective structure will strengthen this scenario. Historically, in Wave A, we saw two 1-2 setups before a third-wave impulse, and history may repeat itself.
🔻 Key Invalidation Level: $1.01763
If the price fails to break resistance and moves downward, this analysis will be invalidated, signaling USD strength and a bearish market shift.
💬 What’s your view on this scenario? Let’s discuss in the comments! 👇
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.