EURUSD has broken the rising channel last Friday (see below).
From elliott wave analysis the current sideway is more like a flat correction. The wave 2 is a clear zigzag correction. They fit the alternative rule very well.
If EURUSD is on the wave 5, the first target is the bottom of the sideway zone. Break out of the flat zone will confirm more of the decline.
Good luck for everyone!
From elliott wave analysis the current sideway is more like a flat correction. The wave 2 is a clear zigzag correction. They fit the alternative rule very well.
If EURUSD is on the wave 5, the first target is the bottom of the sideway zone. Break out of the flat zone will confirm more of the decline.
Good luck for everyone!
Note
Pay attention to the correction triangle it formed last week.
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Related publications
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.