Forex EURUSD Elliott Wave 1 + 4 hr 4 March 2020
Eur/Usd 1 Hour Chart
Wednesday, 4 March 2020 at 15:03 GMT
EURUSD is coming down to 1.1094 potential support, but with ECB ready to cut, not sure if market is really prepared on that rise. However, it can be technical reaction to above 1.1220 Dec 31 level, like a »stop-hunting« move before bears will kick in. A rise above 1.1188 in the near-term opens door for wave 5 move to 1.1220 with limited upside later.
4Hour
Eur/Usd 4 Hour Chart
Thursday, 5 March 2020 at 06:57 GMT
No change.
EURUSD is trading in an impulsive five-wave cycle, ideally back to around 1.1240 resistance area for a higher degree wave C) and if we consider that there is room for more upside, then seems like 5th wave is still missing. So, be aware of another, maybe final leg up once a wave 4 fully unfolds.
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