EUR/USD Elliott Wave: Key Waves & Trade Opportunities
EURUSD EUR/USD Elliott Wave: Key Waves & Trade OpportunitiesElliott Wave Analysis for EUR/USD
Identified Elliott Wave Patterns:
Primary Wave Degree:
Wave 1: Starts at the high around 1.0500 (early December) and ends at the low around 1.0300 (mid-December).
Wave 2: Corrective wave retraces to around 1.0450 (late December).
Wave 3: Impulsive wave drops to around 1.0200 (early January).
Wave 4: Corrective wave retraces to around 1.0300 (mid-January).
Wave 5: Potential completion around 1.0175 (late January).
Intermediate Wave Degree:
Wave (i): Starts at the high around 1.0450 and ends at the low around 1.0300.
Wave (ii): Corrective wave retraces to around 1.0350.
Wave (iii): Impulsive wave drops to around 1.0200.
Wave (iv): Corrective wave retraces to around 1.0275.
Wave (v): Potential completion around 1.0175.
Minor Wave Degree:
Wave (a): Starts at the high around 1.0300 and ends at the low around 1.0200.
Wave (b): Corrective wave retraces to around 1.0250.
Wave (c): Potential completion around 1.0175.
Potential Future Price Movements:
Based on the identified Elliott Wave patterns, the EUR/USD pair is likely to complete the final wave of the primary degree around 1.0175. After this, a corrective wave (Wave A) could push the price back up to around 1.0300, followed by another impulsive wave (Wave B) down to around 1.0150, and finally a corrective wave (Wave C) up to around 1.0350.
Trade Recommendations:
Long Position:
Entry Point: 1.0175
Stop-Loss: 1.0150
Take-Profit: 1.0300
Risk to Reward Ratio: 1:2
Short Position:
Entry Point: 1.0300
Stop-Loss: 1.0350
Take-Profit: 1.0150
Risk to Reward Ratio: 1:2
Specific Price Levels:
Here are the key Fibonacci levels and support/resistance levels:
Fibonacci Levels:
0.382: 1.0400
0.5: 1.0350
0.618: 1.0300
0.705: 1.0275
0.786: 1.0250
Resistance Levels:
1.0500
1.0450
1.0400
Support Levels:
1.0350
1.0300
1.0250
1.0200
1.0175
1.0150
Alex Gold Hunter
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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.
Alex Gold Hunter
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
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.