Detailed Analysis using Elliot Wave
Nifty from march lows formed Leading diagonal and its abc correction till 8806, fresh 5 step impulse wave was triggered till 11794.
Nifty opened gap down on Friday 04th Aug, Gap was wide and didn't get fill.
It has also broken swing low 11325 so this suggests start of fresh corrective wave.
Nifty to again test 11111 levels...
The Weekly chart of EUR/USD has formed a Full Elliot waves Pattern
The Pair after completed (12345) Elliot waves now it is the formation of making corrective waves (ABC)
Short after the correction wave B for the another bearish impulse move on the cards.
As per the price action, it seems like 5 impulse waves are completed within the up-trend channel and now it will move further in corrective phase where 3 waves will continue rallying downward against the trend. The three corrective waves would name A B C. I have marked only Wave A in the above chart.