Elliott Wave Technical Analysis: Euro/U.S. Dollar – Wednesday, Jan. 22

Euro/ U.S. Dollar (EURUSD) – Day ChartEURUSD Elliott Wave Technical Analysis

Wave Invalidation Level: 1.01786This analysis provides an in-depth examination of the EURUSD currency pair on the daily chart using Elliott Wave Theory. It identifies an ongoing bullish trend in an impulsive phase, focusing on the development of Navy Blue Wave 1, which is part of the larger Gray Wave 1. This indicates the beginning of a new upward market movement.The analysis highlights that Navy Blue Wave 1, currently active within the broader framework of Gray Wave 1, reflects strong bullish momentum. This suggests that the market is in the early stages of an extended uptrend. As a next step, the formation of Navy Blue Wave 2 is expected, representing a corrective phase within the broader bullish trend.The set invalidation level for this analysis stands at 1.01786, marking a crucial point where the current wave structure would be invalidated. If the price falls below this level, the bullish scenario would require reassessment and potential revision.Key Takeaways:

This structured analysis helps traders understand the market trajectory, offering a strategic approach to align with the ongoing bullish progression.Euro/ U.S. Dollar (EURUSD) – 4-Hour ChartEURUSD Elliott Wave Technical Analysis

Wave Invalidation Level: 1.01786This analysis examines the EURUSD currency pair on the 4-hour chart using Elliott Wave Theory. The assessment identifies a bullish trend with an impulsive wave structure, emphasizing the development of Orange Wave 1, which is part of the broader Navy Blue Wave 1. This wave signifies the beginning of a new upward movement in the market.The analysis reveals that Orange Wave 1 is currently active within the Navy Blue Wave 1 structure, highlighting a strong directional trend. Following this, the chart anticipates the emergence of Orange Wave 2, which is expected to act as a corrective phase to consolidate the gains achieved in the first wave. This pattern aligns with Elliott Wave principles, where an impulsive wave is followed by a corrective wave.The critical invalidation level is set at 1.01786, serving as a key benchmark to evaluate the sustainability of the current bullish structure. A price drop below this threshold would necessitate a reassessment of the wave count and the overall bullish outlook.Key Takeaways:

This structured analysis helps traders effectively align their trading plans with the evolving market conditions.Technical Analyst : Malik AwaisMore By This Author:Elliott Wave Technical Analysis: Theta Token Crypto Price News For Wednesday, Jan 22
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