EURUSD, Elliott wave analysis. This is my Elliott wave idea about EURUSD on the 4 hours chart.
This idea is almost the same as my idea released on January 27th.
I think that we are in sub wave 3 of wave (5) shown in the red line wave. We just finished sub wave (ii) of wave 3 shown in the blue line wave. I think that sub wave (iii) of wave 3 started. Now, we are in sub wave “(iii)-1” of wave (iii).
If the assumption is correct, The wave “(iii)-2” will 50.0-61.8% retrace of wave “(iii)-1”. After the wave "(iii)-2" was retraced, The wave "(iii)-3" will grow to the levels of 1.110-1.100. In this scenario, critical stop loss level is 1.151.