Up Up and Elliot Wave!? EU to March Levels and Beyond?!
Here I have EUR/USD on the 4 Hr Chart!!
Upon deeper analysis of EU, the LOW created on Apr. 16th happens to be a NEW LOW since the LOW back in Oct. of 2023!!
Since that low, price has been in an UPROAR! Moving fairly Bullishly! Not to mention that it seems we could be seeing the end of an Elliot Wave!!
Price is currently at a STRONG ZONE tested Multiple times throughout Price action in the past few months but we are seeing this Level as SUPPORT!!
Now with the Current HIGH @ 1.08949 and based off the LOW @ 1.06494, we see our Targeted Fibonacci Range @ ( 1.08125 - 1.07717 )
**If Price is unable to Break down Below this Zone, We could be seeing the NEW LOW being the next best area for BUY OPPORTUNITIES!! W/ Range Target being ( 1.08949 - 1.09528 )
Fundamentally, EUR and USD both came in with Strong SERVICES and MANUFACTURING PMI numbers!!!
The only difference is:
EUR is looking at Rate Cuts as soon as July!
USD is looking at Rate Cuts as soon as Sept!
(*Fed unsatisfied by Progress towards optimal 2% Inflation meaning Rates stay "Steady For Longer"
Lets See What Happens!!
Upon deeper analysis of EU, the LOW created on Apr. 16th happens to be a NEW LOW since the LOW back in Oct. of 2023!!
Since that low, price has been in an UPROAR! Moving fairly Bullishly! Not to mention that it seems we could be seeing the end of an Elliot Wave!!
Price is currently at a STRONG ZONE tested Multiple times throughout Price action in the past few months but we are seeing this Level as SUPPORT!!
Now with the Current HIGH @ 1.08949 and based off the LOW @ 1.06494, we see our Targeted Fibonacci Range @ ( 1.08125 - 1.07717 )
**If Price is unable to Break down Below this Zone, We could be seeing the NEW LOW being the next best area for BUY OPPORTUNITIES!! W/ Range Target being ( 1.08949 - 1.09528 )
Fundamentally, EUR and USD both came in with Strong SERVICES and MANUFACTURING PMI numbers!!!
The only difference is:
EUR is looking at Rate Cuts as soon as July!
USD is looking at Rate Cuts as soon as Sept!
(*Fed unsatisfied by Progress towards optimal 2% Inflation meaning Rates stay "Steady For Longer"
Lets See What Happens!!
