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Good afternoon. Let us continue analyzing the market situation using the Elliott Wave theory.
EURUSD H4:
The euro/dollar pair continues the formation of the sideways correction 4. It is a part of the [A]-[B]-[C] wave. On the four-hour chart, we see an upward correctional wave [B] that is a zigzag (A)-(B)-(C). Now, the price is at the end of the downward wave [C]. It represents the impulse (1)-(2)-(3)-(4)-(5).
On a smaller wave level, we can see the formation of a bearish wave (5). It is marketed by red subwaves 1-2-3-4-5. During the recent week, subwave 5 has been forming. The subwave 5 will be completed and the formation of the final small wave [5]. It is likely to end at the level of 1.1520.
Once the price reaches this level, the market may reverse. In this case, we will see a rise in a new wave.
Under the current conditions, it is possible to open sell positions or wait for the confirmation of the bullish trend and open buy orders.
I wish you profitable trading.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
