EVT 1h – Elliott Wave view After the sharp rejection from 8.50 EUR, price printed a three-leg corrective
move that bottomed at 6.50 EUR. The climb from 6.70 EUR is unfolding as an
A-B-C zigzag rather than an impulsive five-wave rally.
Wave map
• Wave A: 6.70 → 7.20 EUR
• Wave B: 7.20 → 6.90 EUR (deep, time-consuming pullback)
• Wave C: now advancing toward 7.70 – 7.80 EUR (first supply)
Key zones
• **Buy box (demand)** 7.05 – 7.25 EUR ↳ ideal entry for wave-C continuation
• **Sell box (supply)** 7.70 – 7.80 EUR ↳ completion area of the zigzag
• Extension target 11.00 EUR ↳ only if 7.80 EUR clears on high momentum
Expectations
The pair of gray arrows on the chart illustrate two scenarios:
1. **Fast resolution** – price tags 7.70 – 7.80 EUR, exhausts wave C, and rolls
back into the 7.20 / 6.90 EUR pocket to start a larger-degree decline.
2. **Time burn** – price drifts sideways inside the blue range, building
structure before a final wave C pop; result is the same retest of demand.
Bias remains bullish toward 7.70 EUR while the 7.05 EUR floor holds, but the
move is classified as corrective, not impulsive; once complete, a return to
range-low support is favored.
