EURUSD has been in a bearish impulsive wave since summer 2021 and I believe we have come to the end of our bearish wave which is where we should be seeing a correction form.
I am anticipating a ABC correction to form before seeing any more weakness from EURUSD .
- Elliot bearish wave has come to an end and we are now in a correction.
- We have rejected our fibonacci level perfectly as anticipated.
- We can see the 1HR EMA is being respected on the downtrend, we can use this as a confirmation of bullishness as this will confirm a change in direction.
We are looking for a break of the 1HR EMA /WFB trendline or BOTH! Using both will give you the strongest confirmation.
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