EURUSD, Elliott wave analysis.
This is my Elliott wave idea about EURUSD on the 4 hours chart.
This idea is almost the same as my idea released on January 27th.
I think that we are in sub wave 3 of wave (5) shown in the red line wave.
We just finished sub wave (ii) of wave 3 shown in the blue line wave.
I think that sub wave (iii) of wave 3 started.
Now, we are in sub wave “(iii)-1” of wave (iii).
If the assumption is correct,
The wave “(iii)-2” will 50.0-61.8% retrace of wave “(iii)-1”.
After the wave "(iii)-2" was retraced,
The wave "(iii)-3" will grow to the levels of 1.110-1.100.
In this scenario, critical stop loss level is 1.151.
This is my Elliott wave idea about EURUSD on the 4 hours chart.
This idea is almost the same as my idea released on January 27th.
I think that we are in sub wave 3 of wave (5) shown in the red line wave.
We just finished sub wave (ii) of wave 3 shown in the blue line wave.
I think that sub wave (iii) of wave 3 started.
Now, we are in sub wave “(iii)-1” of wave (iii).
If the assumption is correct,
The wave “(iii)-2” will 50.0-61.8% retrace of wave “(iii)-1”.
After the wave "(iii)-2" was retraced,
The wave "(iii)-3" will grow to the levels of 1.110-1.100.
In this scenario, critical stop loss level is 1.151.