The EURUSD currency pair has been creating a potential pattern known from Elliott wave theory that we have described in our previous analysis. According to Elliott wave structure the corrective wave “iv” should be finished and the breakout from the downward channel may confirm that.
Currently, the wave “v” within wave 3 is now possibly forming with the potential target above 1,2000. It seems that if the previous top is broken the market may retrace back again as a larger corrective wave “4”.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Currently, the wave “v” within wave 3 is now possibly forming with the potential target above 1,2000. It seems that if the previous top is broken the market may retrace back again as a larger corrective wave “4”.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
