Forex EURUSD Elliott Wave 1 + 4 hr 29 April 2020
Eur/Usd 1 Hour Chart
Monday, 27 April 2020 at 06:24 GMT
Stocks are moving higher on a positive sentiment as a lot of EU countries are beginning to reopen their businesses. At the same time the USD is turning down, as EURUSD bounce back above 1.08 despite no deal on last Thursday’s EU Council meeting. Pair is turning up after potential wedge formation to 1.0725, from where sharp rise signals for more upside. However, we still have to be careful with the EURUSD while pair remains trapped in a big sideways/consolidation range. So rather than looking at the EURUSD gains as buck declines, try to look at some other stronger currencies.
Eur/Usd 4 Hour Chart
Tuesday, 28 April 2020 at 06:46 GMT
EURUSD may have found a low at 1.073 level recently, as price started recovering. Ideally a three-wave a-b-c move for a wave X is completed, and now a three-wave a-b-c rise for a wave Y is underway, towards 1.115/1.13 zone.
ALTERNATE COUNT On the Alternate count a bearish triangle can already be completed. Confirmation for further weakness is below 1.076 level.
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