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EURUSD reached new highs and is now trading higher within wave (v) that is part of a black wave 3 of one larger degree. We see room for 1.3350, but traders should be aware of a possible deep wave 4 pull-back in coming days.

Divergence on the RSI also means that momentum is decreasing so a top could be near.

From a larger perspective, wave C) that we are tracking it from 1.2800 is still incomplete, because we need five waves up from that level so until then EURUSD remains in bullish mode.

EURUSD 4h

EUR USD Elliott Wave Analysis June 2013 technical trading charts forex