EURUSD Elliott Wave Analysis: More Weakness AheadDec 30, 2021

EURUSD stabilized after a sharp sell-off from 1.1600 that we see as an extended wave 3) that belongs to the ongoing bearish impulse which may resume after a current rally.

We see the current slow price action as wave 4) that already stopped at the 1.1370 resistance zone, near 38.2%, so it’s ideally a bearish triangle pattern, but there’s a chance for a slightly bigger correction that can retest 1.1430 resistance area.

However, in both cases, price action suggest more weakness at the start of 2022.
EURUSD 4h Elliott Wave Analysis

EURUSD Elliott Wave Analysis

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