Phils_Ocean

EURUSD Wave Analysis

Long
FX:EURUSD   Euro / U.S. Dollar
EURUSD had some strong moves the last days.

The wave count could either be ABC or an impulse. Last impulsive move could be wave 3 or wave c.

We got nice price action at the turning points. For the low of wave 2 we got a perfect fake breakout from the outside/mother bar. It is even clearer on the 4H timeframe:


4H Chart

Pinbar was formed and price began to rally for wave 3.

Now another fake breakout was formed. I expect EURUSD to move to the last major high, which would finish the 5-waved impulse. (golden area)

We should look for some nice price action on 1H/4H chart with would probably come with divergence as usual between wave 3 and 5.

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