As we can see in EURUSD on the weekly timeframe the pair still seems to be in an overall bearish trend. As we can see the pair seems to be in the creation of the fourth wave of the Elliott Wave Theory and can see potential resistance around the 1.09000 area before heading down to create the fifth and final wave of the entire move but we will have to wait for more confirmation as the market continues to build.
If you would like to see updates on this idea and many more please follow and hit the like button for more!
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.