EURUSD Is Trading In An Impulsive RecoveryNov 29, 2023

EURUSD Is Trading In An Impulsive Recovery from technical point of view and by Elliott wave theory.

Euro is trading higher, it’s recovering with sharp reaction higher since US CPI came lower than expected for October. We see price making extension within wave (3) of a new bullish sequence, which is our primary look because of a broken base channel. So euro can strengthen further, but be aware of some intraday 4th wave pullback from the current Fib resistance here at 1.1050 – 1.1100 area. Also, if the price stays in an uptrend with the current sharp rise, then a higher degree correction from the 2023 highs can be finished. A break below 1.070 will be again bearish for the euro.

EURUSD Is Trading In An Impulsive Recovery Mode EURUSD 4H Chart

For a detailed view and more analysis like this, you may want to watch our latest recording of a live webinar from November 27 below:

Become a premium member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

Ethereum Is Eyeing April Highs After A Pullback. Check our blog HERE.


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.