Elliott Wave Fundamental Analysis fundamental Support and Resistance supportandresistance Elliott Wave

EURUSD - The downtrend is over! New bull market + Elliott Wave

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EURUSD successfully maintained the 1.0 USD level.This is a significant psychological level! As per my Elliott Wave analysis, this huge downtrend should be over, and now I expect a corrective move to the upside.

An impulse Elliott Wave has been successfully completed. Let's see how big this correction is going to be. On the daily chart, we can spot a beautiful descending parallel channel, and I think the bulls can step in to destroy this pattern!

As you can see on the chart, we had 2 fakeouts during this downtrend and this indicated a corrective move. Usually, the third breakout is real!

The profit target is at 0.618 FIB + the start of wave 4. Look at my ideas about Gold , Bitcoin and Ethereum in the related section down below.

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