Elliott Wave Analysis – EUR/USD – Daily Timeframe
The bullish 5-wave impulse appears to have completed.
This was followed by an A-B-C corrective structure, where:
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Waves (A), (B), and (C) are clearly visible.
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The correction seems to have ended or is very close to completion.
The current structure suggests the market may be starting a new upward impulse – likely Wave 1 of a fresh bullish cycle.
✅ Elliott Signal (Wave-Based Setup)
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Status: Potential entry at the beginning of a new bullish wave
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Direction: Buy
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Entry Zone: Around 1.1720 – 1.1750
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Stop Loss (SL): Below Wave (C) low at 1.1160
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Take Profit Targets (TP):
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TP1: 1.1900
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TP2: 1.2150
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TP3 (Long-Term): 1.2450
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⛔ Invalidation Warning
If price closes below 1.1160, the Elliott wave scenario becomes invalid, and a new downward trend may begin.
🟡 Signal Update – Long-Term Trade
📈 Our EUR/USD long position from 1.17200 is still active.
Current price: 1.17643 — approaching the first target at 1.1900.
Since this is a long-term trade, we recommend moving your Stop Loss to breakeven to protect your capital while allowing the trade to develop further.
Stay patient — momentum remains in favor of the bulls.