Elliot_Myers

EUR/USD Upside Set-up - Downside Move Still Possible

FX:EURUSD   Euro Fx/U.S. Dollar
Steep correction fro wave 2-3 into wave 4 which is now in view at 1.11433. At this point price can correct back into the upward structure to the 1.14635 level and beyond or it can break down further to 1.11000.

With high event risk next week price is likely to consolidate between 1.12189 and 1.11433 before a news release acts a catalyst to force it up or down.

Given price action (structure) favours a long trade I expect a correction near wave 4 and the resumption of the upside.
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