Euro / DollaroShort
EUR/USD Update (September 1, 2021)
EUR/USD completed 5 waves up and managed to reach the 100% Fibonacci Extension from wave 2 to wave 3 to wave 4 according to the Elliott Wave Principle.
Since it rejected the 100% Fibonacci Extension and didn't manage to break it, I expect to see an ABC correction to the downside before continuing its way up.
Our first target will be the previous wave 4 of wave 5 (1.1780). Breaking it will push EUR/USD to retest the big previous wave 4 at 1.1720 as our second target.
Not breaking the previous wave 4 after reaching it, we will then see a new bullish intermediate cycle to the upside towards 1.19000.
From a fundamental perspective, ADP Non-Farm Employment Change and ISM Manufacturing PMI could push DXY for an upside correction leading EUR/USD to drop for a little retest.
Since it rejected the 100% Fibonacci Extension and didn't manage to break it, I expect to see an ABC correction to the downside before continuing its way up.
Our first target will be the previous wave 4 of wave 5 (1.1780). Breaking it will push EUR/USD to retest the big previous wave 4 at 1.1720 as our second target.
Not breaking the previous wave 4 after reaching it, we will then see a new bullish intermediate cycle to the upside towards 1.19000.
From a fundamental perspective, ADP Non-Farm Employment Change and ISM Manufacturing PMI could push DXY for an upside correction leading EUR/USD to drop for a little retest.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.