The price action of the EURUSD pair just rebounded from the 23.6 per cent Fibonacci retracement level at 1.13389, as well as from the middle line of the ascending channel.
Thus, the price action is currently in the process of establishing the final impulse leg (4-5) of a major 1-5 Elliott Impulse Wave Pattern. Bears can therefore seek to implement contrarian trading strategies once the price action reaches the upper limit of the ascending channel once again.
Thus, the price action is currently in the process of establishing the final impulse leg (4-5) of a major 1-5 Elliott Impulse Wave Pattern. Bears can therefore seek to implement contrarian trading strategies once the price action reaches the upper limit of the ascending channel once again.
