Euro/U.S. Dollar (EURUSD) – Day Chart AnalysisElliott Wave Technical Analysis
Analysis SummaryThe EURUSD daily chart highlights an Elliott Wave analysis focused on a counter-trend movement. The wave structure identifies the orange wave 3, part of an impulsive sequence within navy blue wave 3 of wave C. This configuration represents a corrective phase amid a broader market trend.Key Insights
Completion of Orange Wave 2:
- The prior orange wave 2 is likely concluded.
Progression of Orange Wave 3:
- The orange wave 3, nested within navy blue wave 3, marks a significant directional move in the counter-trend corrective structure.
Invalidation Level:
- A wave cancelation level is set at 1.09375.
- A breach above this level would invalidate the current wave structure, requiring a reevaluation of the counter-trend scenario.
Trading PerspectiveThis Elliott Wave analysis provides a structured viewpoint on the counter-trend correction in the EURUSD pair. The ongoing orange wave 3 underscores the continuation of the corrective trend, adhering to the impulsive sequence expected in this phase.Traders should monitor key levels, including the invalidation point, while observing directional patterns within the wave structure. The current phase aligns with further development in the corrective wave trend.
Euro/U.S. Dollar (EURUSD) – 4-Hour Chart AnalysisElliott Wave Technical Analysis
Analysis SummaryThe EURUSD 4-hour chart provides an Elliott Wave analysis emphasizing a bearish trend. The wave structure highlights the orange wave 3, which is part of an impulsive sequence within navy blue wave 3, signaling continued downward pressure in the market.Key Insights
Completion of Orange Wave 2:
- The preceding orange wave 2 appears finalized.
Development of Orange Wave 3:
- The orange wave 3, embedded within navy blue wave 3, indicates strengthening bearish momentum.
Invalidation Level:
- A cancelation level is identified at 1.09375.
- Movement above this level would invalidate the current wave structure, necessitating reevaluation of the bearish outlook.
Trading PerspectiveThis Elliott Wave analysis offers a structured approach to the bearish trend in EURUSD. The active orange wave 3 reflects the continuation of downward momentum, in line with the impulsive sequence defined in Elliott Wave Theory.Key directional trends and invalidation points provide traders with actionable insights. The ongoing orange wave 3 phase suggests scope for further declines, reinforcing the broader bearish sentiment.
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