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Forex EURUSD Elliott Wave 1 + 4 hr 13 March 2019

Forex EURUSD Elliott Wave 1 + 4 hr 13 March 2019


Forex EURUSD Elliott Wave 1 + 4 hr 13 March 2019

Eur/Usd 30 Minute Chart
Wednesday, 13 March 2019 at 10:11:00PM EST

Just like Cable, even EURUSD still can be in iv) here with testing of 1.1300 support level and channel support line, so be aware of a bounce back to highs towards 1.1350 area or higher. But in case, if we see an impulsive continuation lower back below 1.1255 region, then we will adjust the view.


Eur/Usd 4 Hour Chart
Wednesday, 13 March 2019 at 4:34:00PM EST

EURUSD is nicely recovering from the 1.117 level, giving us an idea that sub-wave v of C has found a low, and that a new three-wave recovery is now in play. We labelled wave a/i unfolding, which can take price towards possible 1.132 resistance region. At the mentioned zone, a temporary pullback as wave b/ii may follow. That said once we get a break above the 1.142 level, that is when a bullish continuation in five waves will be expected.


Eur/Usd 4 Hour Chart
Wednesday, 13 March 2019 at 4:34:00PM EST


On count #2 we labelled a break lower, out of a triangle correction which was located in big red wave 4) and found resistance at the 1.142 level. The impulsive decline can now be labelled as wave 1 of a higher degree bearish cycle, which can already be followed by a temporary wave 2 pullback.



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