EURUSD Charts & Morning Update
With the continued move higher in the EURUSD it is now un clear if we are still in a Minuette Degree wave (IV) with the Minuette Degree wave (5) sill ahead to complete all of the Minute Degree Wave 1 down off the February 2018 high OR we are now in the Minute Degree Wave II back up already with the Minute Degree wave 1 having completed at the August 15th low.
Looking for the EURUSD to now continue lower. If we then hold above 1.15266 and proceed to take out the current highs then the EUR should continue higher in the Minute Degree Wave ii. Below 1.15266 and we should continue down to the target region shown in the Daily and 240 Minute Charts to complete all of the Minute Degree Wave 1
The EURUSD now has what can be counted as a 5 wave move down off the recent high for a possible Sub Minuette Degree Wave i of the Minuette Degree wave (V). The EURUSD now looks to have completed a 3 wave upside move for the Sub Minuette Degree Wave ii and we should see the rest of the final 5 wave ending diagonal structure to the downside unfold as shown in the 60 Minute Chart.
Login or start your Free Trial to see the Day Trade Chart for EUR/USD and access all of our in-depth charts, Elliott Wave setups, Fibonacci Levels, Hurst Cycles, and more including our Live Trading Room where you watch our screens as we trade live and show you the market direction in real time.