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EURUSD Elliott Wave Analysis – Trading Lounge

Euro/ U.S. Dollar (EURUSD) – Day Chart

EURUSD Elliott Wave Technical Analysis

• Function: Counter-Trend
• Mode: Corrective
• Structure: Orange Wave 4
• Position: Navy Blue Wave 3
• Direction Next Higher Degrees: Orange Wave 5
• Details: Orange Wave 3 appears completed, with Orange Wave 4 now active.
• Wave Cancel Invalid Level: 1.05289

The EURUSD Elliott Wave Analysis for the daily chart provides a comprehensive view of the Euro/U.S. Dollar currency pair, examining its present trend and potential upcoming movements. The analysis suggests the market is currently in a counter-trend phase, marked by corrective price action rather than a strong directional trend. The primary wave structure under review is Orange Wave 4, forming part of a larger corrective sequence.

This wave is situated within Navy Blue Wave 3, indicating its placement within the broader Elliott Wave count. The analysis suggests Orange Wave 3 has likely concluded, and the market is now transitioning into Orange Wave 4. As a corrective phase, this wave may involve sideways movement or retracement before the next significant trend emerges.

The next higher-degree wave to monitor is Orange Wave 5, expected to follow once Orange Wave 4 is completed. A crucial level to watch is 1.05289, which acts as the invalidation point for this wave structure. If the price moves beyond this threshold, the current Elliott Wave count would be considered invalid, potentially indicating a shift in market behavior.

Traders should closely monitor the development of Orange Wave 4 and prepare for the possible emergence of Orange Wave 5. The analysis highlights the importance of tracking the invalidation level to confirm or adjust the current wave interpretation. This detailed review of the EURUSD daily chart serves as a guide for understanding market structure and anticipating future price action, providing valuable insights for traders navigating the ongoing corrective phase.

Euro/ U.S. Dollar (EURUSD) – 4-Hour Chart

EURUSD Elliott Wave Technical Analysis

• Function: Counter-Trend
• Mode: Corrective
• Structure: Orange Wave 4
• Position: Navy Blue Wave 3
• Direction Next Higher Degrees: Orange Wave 5
• Details: Orange Wave 3 appears completed, with Orange Wave 4 now active.
• Wave Cancel Invalid Level: 1.05289

The EURUSD Elliott Wave Analysis for the 4-hour chart provides a detailed assessment of the Euro/U.S. Dollar currency pair, analyzing its current trend and potential future movements. The analysis identifies that the market is in a counter-trend phase, characterized by corrective movements rather than a strong directional trend.

The primary wave structure under examination is Orange Wave 4, which is part of a broader corrective pattern. This wave is positioned within Navy Blue Wave 3, highlighting its placement in the larger wave count. The analysis suggests that Orange Wave 3 has likely concluded, and the market is now shifting into Orange Wave 4. This wave is expected to be corrective in nature, implying potential sideways movement or retracement before the next significant trend takes shape.

The next higher-degree wave to monitor is Orange Wave 5, which is anticipated to emerge following the completion of Orange Wave 4. A critical price level to observe is 1.05289, serving as the invalidation point for the current wave count. If the price surpasses this threshold, the current wave structure would be considered invalid, potentially indicating a shift in market conditions.

In summary, EURUSD remains in a corrective phase, and traders should carefully track the development of Orange Wave 4 while preparing for the potential arrival of Orange Wave 5. Monitoring the invalidation level is crucial for confirming or adjusting the existing wave count. This analysis offers valuable insights for traders, helping them understand market structure and anticipate future price movements in the current corrective environment.

Technical Analyst :Malik Awais

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