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Chart of the Day - 21 January 2022

Elliott Wave View: EURUSD Has Resumed Lower

Short Term Elliott Wave view in EURUSD suggests rally to 1.1483 ended wave (4). Internal of wave (4) unfolded as an ABC zigzag Elliott Wave structure. In the 1 hour chart below, wave B ended as a triangle and wave C higher subdivided as a 5 waves impulse structure. Up from wave B, wave ((i)) ended at 1.135 and dips in wave ((ii)) ended at 1.1311. Pair then extended rally higher in wave ((iii)) towards 1.148 and dips in wave ((iv)) ended at 1.145. Final leg higher wave...