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Elliott Wave Analyst

EUR/USD: wave i of (iii) is on the way

EUR/USD: wave i of (iii) is on the way

The price has been declining since a pullback from 3/8 MM Level happened. Therefore, bears are likely going to deliver wave (iii) in the short term. In this case, we could have a new low soon.

EUR/USD: wave i of (iii) is on the way

As we can see on the one-hour chart, wave (ii) formed like a double zigzag, so the price is declining in wave i of (iii). The main intraday target is 3/8 MM Level, which could be a departure point for wave ii of (iii).

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