Elliott Wave Analysis: EURUSD Update

Price turned sharply higher in the last couple of trading sessions on EURUSD and breached nicely above the first swing high of wave iv) at 1.1777 level. We see current rally as an early evidence of a completed three-wave correction and a minimum three-wave recovery to be in progress. That said, once first wave i) finds a top a new temporary correction into the following wave ii) may come in play.

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.