EUR/USD Showing Potential For 1.125 – Elliott Wave Analysis

EUR/USD found a base at the 1.098 area, from where a strong rally started to take place. Current strong rise can be first evidence of a completed double zig-zag correction, and that further bullish development may follow. We are observing a wave i of a new bullish cycle that can be followed by a temporary pullback as wave ii, with potential support at the 1.105/1.102 region.

eurusd, 4h

EUR/USD, 4h Chart

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