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

27 Jul 2022

• 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.
  
• For more ideas, please hit "Like" and "Follow"!