Elliott Wave analysis expects a flat correction as wave two in EUR/USD [Video]

Short term Elliott Wave in EUR/USD suggests rally from 4.16.2024 low unfolded as a 5 waves impulse Elliott Wave structure.

Short term Elliott Wave in EUR/USD suggests rally from 4.16.2024 low unfolded as a5 waves impulse Elliott Wave structure. Up from 4.16.2024 low, wave ) ended at 1.0753 and pullback in wave ) ended at 1.0649. The pair extends higher again in wave ) ended at1.0812 and correction in wave ) towards 1.0723 low. Then the pair extend higher in wave ) with internal subdivision as an impulse in lesser degree. The 1 hour chart below shows the subdivision of wave ). Up from wave ), wave ended at 1.

EUR/USD then extended higher in wave towards 1.0870 and pullback in wave ended at 1.0831. Final leg wave ended at 1.0895 which completed wave ) and wave 1. The pair then started a correction in wave 2 and we are calling as a flat structure. First leg lower ended wave ) at1.0804 low and bounced to retest the highs as wave ) ended at 1.0889. Near term, as far as pivot at 1.0895 high stays intact, expect dips to find support to end wave 2 correction before further upside.

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