Elliott Wave Analysis of EURUSD

The recent short term gyrations can be counted as a completed pattern into 12353, however there is a way to count the recent gyrations as part of an expanded flat for a [x] wave, so that can argue for a spike above 12353 before wave [ii] is completed (see alt idea in blue).

Overall it remains bearish below 12554, allow for a possible new high above 12353.

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The content of this website is for educational purposes only, the information supplied shall not be construed as a recommendation to buy or sell any security or financial instrument. Wavepatterntraders will not be held responsible for any losses occurring from the information provided within the website. The information expressed within the website is solely the opinion of the author/owner. Wavepatterntraders are not registered investment advisers. Members are strongly urged to consult an investment consultant before making any financial decisions or investments.

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