Elliott Wave Forex EURUSD News 30 min - 4 hr 29 November 2018
Eur/Usd Two Types Of Corrections, 30min
Wednesday, 28 November 2018 at 1:26:00AM AEST
EURUSD just spiked down, so we decided to take a look, but we still don't see any changes! EURUSD still looks corrective, so we are sharing with you two types of corrections, just keep in mind that Bulls can be confirmed only above 1.14 region! If goes more complex, we remain bullish while it's above 1.1215 invalidation area!
Eur/Usd 4 Hour Chart
Wednesday, 28 November 2018 at 6:54:00PM AEST
EURUSD has turned nicely higher in the last few weeks, close to 1.1500 area which gives an idea that market is making a reversal in price, ideally for a big wave C) up of a flat. Recovery may begin soon as current minor three wave drop to 1.12950 area can be wave 2 at support. Ideally, H&S pattern is also coming to an end which may lift prices much higher if 1.1500 is broken. That said, a five-wave rally from support will indicate a completed correction and more upside, above the 1.1500 region.
Now on the other hand, we see price making a deeper complex correction, down from 1.1830 high which can be labelled as a higher degree wave B). This wave B) can be a seven-swing pattern in the making, with possible support and turning point zone at the 1.1200/1.1100 region.
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