EURUSD Elliott Wave Analysis – Trading Lounge

Euro/ U.S. Dollar (EURUSD) Daily Chart Analysis

EURUSD Elliott Wave Technical Analysis

Function: Bullish Trend

Mode: Impulsive

Structure: Navy Blue Wave 3

Position: Gray Wave 1

Next Lower Degree Direction: Navy Blue Wave 4

Wave Cancelation Level: 1.05378

Analysis Details:

The EURUSD Elliott Wave Analysis for the daily chart offers an in-depth evaluation of the Euro/US Dollar currency pair, emphasizing its current trend and future potential movements.

This analysis identifies the market in a bullish trend phase, driven by impulsive waves rather than corrections. The key focus is on navy blue wave 3, forming part of a larger wave pattern and positioned within gray wave 1 in the broader Elliott Wave count.

Navy blue wave 2 appears complete, and the market is now advancing into navy blue wave 3, an impulsive movement expected to drive strong directional shifts.

Once navy blue wave 3 is completed, traders should prepare for navy blue wave 4, which will mark the next corrective phase.

The critical invalidation level is 1.05378. If the price falls below this level, the current Elliott Wave structure will be invalidated, possibly indicating a shift in market dynamics.

Trading Considerations

Traders should monitor the development of navy blue wave 3, preparing for its transition into navy blue wave 4. Understanding these wave structures is key to forecasting future price movements accurately.

By focusing on the daily chart, this analysis provides a broad market perspective, aligning trading strategies with long-term trends and potential reversal points. Recognizing wave patterns and key price levels enables traders to make informed decisions, helping them identify wave completions and upcoming market movements.

This strategic approach ensures traders are well-prepared for evolving market conditions, enabling better trade execution and risk management.

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

EURUSD Elliott Wave Technical Analysis

Function: Bullish Trend

Mode: Impulsive

Structure: Orange Wave 5

Position: Navy Blue Wave 3

Next Lower Degree Direction: Navy Blue Wave 4

Wave Cancelation Level: 1.05378

Analysis Details:

The EURUSD Elliott Wave Analysis for the 4-hour chart provides insights into the Euro/US Dollar currency pair, analyzing its current trend and potential price movements.

This analysis identifies the market as being in a bullish phase, driven by impulsive movements rather than corrections. The key structure under examination is Orange Wave 5, which is positioned within Navy Blue Wave 3, confirming its placement in the larger wave cycle.

Orange Wave 4 has likely completed, and the market is now shifting into Orange Wave 5, an impulsive wave expected to bring strong directional movements.

Once Orange Wave 5 is completed, traders should watch for Navy Blue Wave 4, marking the next corrective phase.

The critical invalidation level is 1.05378. If the price moves beyond this level, the current wave structure would be invalidated, indicating a potential market shift.

Trading Considerations

Traders should closely monitor the progress of Orange Wave 5 and prepare for the possible transition into Navy Blue Wave 4. Understanding the wave structure is essential for accurately forecasting future price movements.

By focusing on the 4-hour chart, this analysis provides shorter-term insights, helping traders align their strategies with immediate market trends. Recognizing wave patterns and key price levels enables traders to make informed decisions, allowing them to identify trend completions and upcoming movements.

This structured approach helps traders adapt their strategies effectively, ensuring they are well-prepared for market fluctuations and emerging opportunities.

Technical Analyst: Malik Awais

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