EURUSD Forecast – Elliott wave analysis

EURUSD in bearish consequences and more downside is expected

The pairs is in bearish consequences and more downside is expected as long as the pairs didn’t break the invalidation level. the current price within correction wave {y minor level} subdivision of wave {((b)) grand super cycle level}} ; for more understanding wave levels press here; the next target level for next month is range between 1.094277-1.08626, see daily chart.

for medium term traders bullish correction in progress formulating wave { ((c)) minor level } subdivision of wave {x minor level}. and after it complete this wave our short side target profit should be clear and to be range between 1.08640- 1.06258 to complete wave {(3) intermediate level} refer to 4 hour chart.

for short term trader the pair in bullish trend however it is not prefer to trade in this direction as the bigger trend in bearish trend.

the best entry level for the pair is estimated to be between (1.11732-1.12708) at the end of wave {((c)) minute level}, for more details see 1 hour chart.

See elliott wave count key page for more understanding of wave hierarchy and counting.

Daily chart

EURUSD daily- Chart 10-09-2019 09:00 am GMT
EURUSD daily- Chart 10-09-2019 09:00 am GMT

Recommendations:

Trade Direction : Bearish

entry level : 1.11118-1.11698

target profit : 1.09427 -1.08626

Invalidation level : 1.15690

4 hour chart

EURUSD 4 hour - Chart 10-09-2019 09:00 am GMT
EURUSD 4 hour – Chart 10-09-2019 09:00 am GMT

Recommendations:

Trade Direction : Bearish (Sell)

entry level :1.11732-1.12335

target profit :1.08640 – 1.06258

invalidation level :1.14109

1 hour chart

EURUSD 1 hour - Chart 10-09-2019 09:00 am GMT
EURUSD 1 hour – Chart 10-09-2019 09:00 am GMT

Recommendations:

Trade Direction : Bearish (Sell)

entry level : 1.11732-1.12335

target profit :1.08640-1.06258

invalidation level :1.1250

elliottwavelive

Expert trader integrate powerful of Fundamental analysis and news with distinguish of Elliott wave technical analysis for excellent trade setups.

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