Elliott Wave Analysis: EURUSD Update

EURUSD has turned nicely higher recently from the 1.127 level which was quite expected as we were tracking a minor pullback labelled as wave 2. Current rally we now labelled as start of a new, five-wave cycle which can unfold in the next couple of days or weeks, labelled as wave 3 that can take price towards the 1.170 region. That said a break above the 1.150 region will confirm more upside.

EURUSD, 4h