empty
 
 
03.09.2021 03:08 PM
EUR/USD Elliot Wave Analysis for September 3, 2021

EUR/USD, H1:

This image is no longer relevant

According to Elliott wave analysis, a global impulse is being built for the EUR/USD pair, in which the corrective wave 4 was completed. This correction took the form of a wave plane [A]-[B]-[C]. After it ended, the market turned around and began to move in an upward direction, which hints at a new bullish wave.

Most likely, the formation of the final fifth of the global momentum has begun on the market. Judging by the initial part, an upward impulse is being built, in which the first two sub-waves (1) and (2) were completed, and now the development of the sub-wave (3) has begun. It is assumed that the price will soon reach the level of 1.1909, which was marked by the correction (4), and then rise to higher levels.

Thus, in the current situation, one can consider opening long positions with a take profit at 1.1909.

Roman Onegin,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback