EURUSD is slowly but surely approaching the end of its downtrend. Despite being in a bear market for the past year, wave structure is signalling the end of this trend, as we get closer to forming a bottom soon. According to the Elliot Wave Theory, we should now be in the final bear wave (Wave 5), made up of 3 sub-waves (I-II-IV).
This correlates negatively to the Dollar Index which is a positive sign for our EURUSD long analysis. As DXY starts forming its top, we expect GOLD and EURUSD to form a bottom and get ready to resume their uptrends🚀
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