EURUSD Elliott Wave Analysis Trading Lounge Day Chart,    

Euro/U.S.Dollar(EURUSD) Day Chart    

EURUSD Elliott Wave Technical Analysis  

FUNCTION: Trend                                

MODE: impulsive                      

STRUCTURE:red wave 3                                

POSITION: blue wave 3                              

DIRECTION NEXT HIGHER DEGREES:red wave 4                                

DETAILS: red wave 2 looking completed at 1.08854  .Now red wave 3 of 3 is in play . Wave Cancel invalid level: 1.08854          

The EUR/USD Elliott Wave Analysis for the Day Chart identifies a trend with impulsive characteristics, reflecting significant and consistent movement in one direction within the Elliott Wave structure. This technical analysis helps traders understand market momentum and potential shifts.

Function

The function is described as "Trend," indicating that the analysis is focused on the overall direction of the market, typically associated with impulsive waves that drive price action forward.

Mode

The mode is categorized as "impulsive," pointing to robust, one-directional movement, often linked to waves that exhibit strong trends and rapid price shifts. This mode typically represents the waves driving the broader trend.

Structure

The structure is "red wave 3," suggesting that the observed wave is the third wave in a larger Elliott Wave pattern. The third wave is generally the strongest among impulsive waves, indicating significant upward or downward momentum.

Position

The position is "blue wave 3," indicating that the analysis focuses on a specific segment of the broader wave structure. This positioning aligns with a mid-phase impulsive wave within the larger cycle.

Direction for the Next Higher Degrees

The expected direction for the next higher degrees is "red wave 4," which usually signifies a corrective phase following the completion of an impulsive wave. This direction suggests that once red wave 3 concludes, the market could enter a consolidation or retracement period before the next impulsive phase.

Details

The details provide more granular information about the wave structure. Red wave 2 is considered complete at the 1.08854 level, indicating that the corrective phase has likely ended, paving the way for red wave 3, which is now in play. This suggests a continuation of the impulsive trend, signifying strong market movement. The "Wave Cancel invalid level" at 1.08854 serves as a critical threshold, suggesting that if this level is breached, the current Elliott Wave structure would be invalidated, leading to a new interpretation of the market dynamics.

Overall, the EUR/USD Elliott Wave Analysis for the Day Chart points to a strong trend with impulsive movement in red wave 3, indicating significant momentum and directional movement. The completion of red wave 2 at 1.08854 suggests that the corrective phase has ended, with red wave 3 now driving the trend forward.

EURUSD-Day-forex-cha...

 


 

EURUSD Elliott Wave Analysis Trading Lounge 4-Hour Chart,    

Euro/U.S.Dollar(EURUSD) 4 Hour Chart    

EURUSD Elliott Wave Technical Analysis  

FUNCTION: Trend                                

MODE: impulsive                      

STRUCTURE: black wave 3                                

POSITION: Red Wave 3                              

DIRECTION NEXT HIGHER DEGREES: black wave 4                                

DETAILS: black wave 2 looking completed or near to end . Now looking for black wave 3 to play or is in play. Wave Cancel invalid level: 1.08854          

The EUR/USD Elliott Wave Analysis for the 4-Hour Chart provides insights into the Euro versus the U.S. Dollar market using the Elliott Wave framework. This analysis identifies a trend scenario with impulsive characteristics, indicating the presence of strong directional movement within the observed wave structure.

Function

The function is described as "Trend," suggesting that the analysis explores a segment within the broader directional trend. This typically involves a focus on the impulsive waves that drive the primary market movement.

Mode

The mode is categorized as "impulsive," pointing towards a strong, one-directional movement. Impulsive modes are often associated with rapid price changes and suggest a clear trend pattern, as opposed to corrective phases that indicate consolidation or retracement.

Structure

The structure identified is "black wave 3," indicating that the observed wave pattern represents the third wave within the larger Elliott Wave cycle. Black wave 3 is typically 2 / 2 the strongest and longest among impulsive waves, indicating that the current trend may be gaining momentum.

Position

The position of the analysis is "red wave 3," denoting that the specific wave under consideration is part of the larger black wave 3. This positioning aligns with a mid-phase impulse within the broader wave structure.

Direction for the Next Higher Degrees

The expected direction for the next higher degrees is "black wave 4," indicating that after the completion of the current impulsive wave, the structure will likely transition into a corrective phase. Black wave 4 typically signifies a temporary retracement within a broader impulsive pattern.

Details

The details provide more specific information about the current wave structure. Black wave 2 is considered completed or near completion, suggesting that the impulsive phase (black wave 3) is about to commence or is already underway. This is a critical juncture in the Elliott Wave cycle, as it indicates a shift from a corrective phase to a renewed impulsive trend. The Wave Cancel invalid level is set at 1.08854, indicating a key threshold. If this level is breached, the current Elliott Wave structure would be invalidated, necessitating a new interpretation of the market pattern.

In summary, the EUR/USD Elliott Wave Analysis for the 4-Hour Chart focuses on an impulsive trend structure, with black wave 3 suggesting strong market momentum. The analysis anticipates the end of a corrective phase and the beginning of an impulsive wave, with a Wave Cancel invalid level providing a key point for maintaining the validity of the current Elliott Wave structure.

Technical Analyst: Malik Awais

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: British Pound/U.S.Dollar(GBPUSD)

Special Trial Offer - 0.76 Cents a Day for 3 Months!  Click here
Access 6 Analysts covering over 150 Markets. Chat Room With Support

EURUSD-4Hr-forex-cha...

Related

Caterpillar Inc., (CAT) U.S. Stocks Elliott Wave Technical Analysis: Detailed Chart Analysis for Bullish Trend and Price Targets

Caterpillar Inc., (CAT) U.S. Stocks Elliott Wave Technical Analysis: Detailed Chart Analysis for Bullish Trend and Price Targets

This analysis of Caterpillar (CAT) applies Elliott Wave Theory to both daily and 1-hour charts, high...

Read More >
Comprehensive Stock Market Indices Analysis: S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200 | Elliott Wave Insights

Comprehensive Stock Market Indices Analysis: S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200 | Elliott Wave Insights

The S&P 500 and NASDAQ 100 are currently in a bullish Elliott Wave pattern, specifically in wave (ii...

Read More >
Elliott Wave Technical Analysis & Trading Strategies: S&P 500, NASDAQ, DAX 40, FTSE 100, ASX 200

Elliott Wave Technical Analysis & Trading Strategies: S&P 500, NASDAQ, DAX 40, FTSE 100, ASX 200

Gain expert Elliott Wave insights and effective trading strategies for major global indices: S&P 500...

Read More >
GX Uranium ETF Elliott Wave Analysis: Exploring Bullish Trends, Uranium Sector Growth, and Clean Energy Investment Opportunities

GX Uranium ETF Elliott Wave Analysis: Exploring Bullish Trends, Uranium Sector Growth, and Clean Energy Investment Opportunities

The GX Uranium ETF (URA) offers exposure to the growing uranium sector, capitalizing on increasing n...

Read More >
Potential Market Movements for British Pound to Australian Dollar Curency Pair: GBPAUD Forex Elliott Wave Technical Analysis

Potential Market Movements for British Pound to Australian Dollar Curency Pair: GBPAUD Forex Elliott Wave Technical Analysis

This article provides a detailed Elliott Wave analysis for GBPAUD, highlighting a strong bearish tre...

Read More >
Seizing Counter-Trend Opportunities: British Pound/ Australian Dollar(GBPAUD) Elliott Wave Technical Analysis Insights

Seizing Counter-Trend Opportunities: British Pound/ Australian Dollar(GBPAUD) Elliott Wave Technical Analysis Insights

Our British Pound/ Australian Dollar(GBPAUD) Elliott Wave Analysis, uncovers counter-trend potential...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on