This is my Elliott wave idea about EURUSD.
I thought the last wave of the Downtrend would occur.
Last time idea (5th Oct)
But I think the wave C(Black) was completed and switched to a new Uptrend.
I think We are in sub-wave (3) (Red) of wave 1 (Black).
Wave 1(Black) is probably 5 waves impulse.
I will observe if we can break the resistance Line (Black) and if wave 2 can be supported by the resistance Line (Black)
1 Day chart
1 Week chart
I thought the last wave of the Downtrend would occur.
Last time idea (5th Oct)
But I think the wave C(Black) was completed and switched to a new Uptrend.
I think We are in sub-wave (3) (Red) of wave 1 (Black).
Wave 1(Black) is probably 5 waves impulse.
I will observe if we can break the resistance Line (Black) and if wave 2 can be supported by the resistance Line (Black)
1 Day chart