EUR/USD elliott wave analysis

Elliott wave weekly chart analysis.

From above image we can say that Elliott corrective wave started.First wave 1 can be closed in between area of  38.2 Fibonacci line and 23.6 Fibonacci line for that confirmation 38.2 Fibonacci line have to confirm first.

Market volatility still in area above 50  means possible jump of 1.4425-1.4655 area left.


Elliott wave Daily chart analysis.

From above image we can say that corrective wave can turn in to 1 to 5 form if 1.4065 confirm as support line,otherwise it will turn in to resistance line and down upto 1.3763 area.

Daily market volatility can be confirm change in 50 level ...break of line confirm more up to 1.4655 area...

Elliott Wave Analysis Info

Elliot wave is a method of technical analysis to count trend wave. Elliot wave is in two form;

1)Basic trend waves.
2)corrective waves.

1)Basic trend waves are in 1 to 5 numerical form {LH(1)L(2)H(3)L(4)H(5)}
2)Corrective waves can be either 1 to 5 or 1 to3

Following image is an example of elliot wave count;

Analysis the chart from weekly time frame to 4h candle. Lower time frame more hard for wave analysis.