EURUSD: Elliott wave examination and estimate for 13.05.2022 – 20.05.2022

Share on facebook
Share on twitter
Share on whatsapp
  • Principal situation: consider short situations from remedies beneath the degree of 1.0654 with an objective of 1.0000 – 0.9480.
  • Elective situation: breakout and solidification over the degree of 1.0654 will permit the pair to keep ascending to the degrees of 1.0937 – 1.1184.

Examination: Apparently, a negative adjustment keeps creating on the week by week graph as wave of bigger degree B, which is shaping as triple crisscross (W)- (X)- (Y)- (X)- (Z). Wave (Z) of B gives off an impression of being unfurling on the everyday diagram, with wave С of (Z) creating as its part. The fifth influx of more modest degree v of C is shaping on the H4 outline, with wave (iii) of v probably unfurling as its part. Assuming the assumption is right, the pair will keep on dropping to the degrees of 1.0000 – 0.9480. The degree of 1.0654 is basic in this situation. Its breakout will permit the pair to keep ascending to the degrees of 1.0937 – 1.1184.

EURUSD current rate in the Forex market:

About the author

Nafees Saifi // entrepreneur, author, trainer, and stocks and FX trader. 
Nafees Saifi is a professional FX trader from, India. Nafees has extensive experience trading commodities, bonds, and equity futures in the Asian, European, and US markets. Nafees holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.


Leave a Reply