The second-wave correction might have finished in the form of a zigzag. However, as long as the pair is below 1.1905, the further wave 2 unfolding will remain possible. More on intraday updates: https://www.elliottwaveforex.com/category/eurusd/
The second wave of wave ((C)) is likely still underway. As you can see on the 12h chart below, there’s a possible ongoing double zigzag pattern for wave (2). If correct, the price is going to continue moving sideways in the coming days. Also, the market should break the low of wave W before a third-wave advance begins.
There’s a downward double zigzag, which is supposed to be wave (2). Previously, we have a massive advance in wave (1). In this case, we might be at the early stages of wave (3) of ((C)), as shown on the weekly chart below.
At the same time, we can’t rule out that wave (2) might be a little bit longer, possible as a flat pattern. We will continue considering this option in intraday updates as an alternate scenario.
There’s a downward double zigzag, which is supposed to be wave (2). Previously, we have a massive advance in wave (1). In this case, we might be at the early stages of wave (3) of ((C)), as shown on the weekly chart below.
At the same time, we can’t rule out that wave (2) might be a little bit longer, possible as a flat pattern. We will continue considering this option in intraday updates as an alternate scenario.
The market is still unfolding wave Y of (2). In this case, we should be ready for a another decline in the coming days, possibly toward the low of wave 4 of (1). As you can see on the weekly chart below, the opportunity to have a third-wave advance remains in place, but we should wait for the ending of the ongoing downward correction.
The market is still unfolding wave Y of (2). In this case, we should be ready for a another decline in the coming days, possibly toward the low of wave 4 of (1). As you can see on the weekly chart below, the opportunity to have a third-wave advance remains in place, but we should wait for the ending of the ongoing downward correction.
The market is still unfolding wave Y of (2). In this case, we should be ready for a another decline in the coming days, possibly toward the low of wave 4 of (1). As you can see on the weekly chart below, the opportunity to have a third-wave advance remains in place, but we should wait for the ending of the ongoing downward correction.
The market is still declining this week, so wave Y of (2) is already underway. In this case, we should be ready for a massive decline in the coming days, possibly toward the low of wave 4 of (1). As you can see on the weekly chart below, the opportunity to have a third-wave advance remains in place, but we should wait for the ending of the ongoing downward correction.
The market was declining this week, so we can’t rule out an option that wave (2) is already underway. In this case, we should be ready for a massive decline in the coming days. If correct, the price should break the low of wave W soon.
The fifth wave of wave ((C)) is still underway, so the last decline is likely wave 2. If correct, the market should continue unfolding wave 3 of (5), as shown on the 12H chart. The main critical level is the low of wave 2.
