Hello fellow traders. In this technical blog, we’re going to take a quick look at the Elliott Wave charts of EURUSD, published in the members area of the website. As our members know the pair is showing incomplete bearish sequences in the cycle from the July 18th peak targeting 1.0435-1.0318 area. Consequently, we recommend members avoid buying at this stage and call for a further decline. Recently EURUSD made a pullback that has found sellers right at the equal legs area.

In the further text, we are going to explain the Elliott Wave Pattern and the forecast

EURUSD H1 Weekend Update 09.30.2023

EURUSD has given us 3 waves bounce in wave ((iv)) recovery. The pair has made clear 3 waves up and reached equal legs area at 1.05873-1.06310. Sellers appeared as expected and we can already see reaction from the equal legs area.  Correction is counted completed at 1.06165 peak as Elliott Wave Zig Zag Pattern.

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EURUSD H1 Weekend Update 10.02.2023

The price kept the 1.06165 peak intact and we got further separation lower. As far as the price stays below the 1.06174 high, we expect the pair to keep trading lower in wave ((v)), targeting the 1.0458-1.0409 area. We would like to see a break of 09/28 low to confirm an extension down toward the mentioned zone.

Keep in mind that the market is dynamic and the presented view could have changed in the meantime. You can check the most recent updates in the membership area of the website. Remember that not every chart is a trading recommendation. The best instruments to trade are those having incomplete bullish or bearish swings sequences.

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Elliott Wave Forecast

We cover 78 instruments in total, but not every chart is a trading recommendation. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy.

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