EURUSD fell yesterday through the channel support line which gives momentum for a bearish price action of wave 3. The ideal projected zone for this leg is around 1.0720-1.0745 where the pair may find some support in the coming sessions. For traders that are interested in shorts, we suggest to wait on a wave 4 bounce.
EURUSD 1h Elliott Wave Analysis
USD is also trading impulsively against the Swiss franc. On the hourly chart we see the pair in wave three of three so market will likely reach higher levels. An extended red wave iii) has a target of 161.8% Fibo at 0.9860, so we will continue to look towards this level after a corrective black wave iv retracement that will be on our radar screen for long entries.
USDCHF 1h Elliott Wave Analysis