This is my Elliott wave idea about EURUSD on the 4 hours chart. An overview of my Elliot wave analysis was shown on Mar 31th.
We are in “sub wave (3)” of “wave C” (Black). I think that we are in “sub wave 2” (Blue) of “wave (3)” (Red).
Now, we are in “sub wave (C)” of “Wave 2” (Blue). The sub waves of “wave (C)” completed “wave1” to “wave4”. “Sub wave 5” is not finished yet Probably there is a last wave. Soon, “Wave 2(Blue)” will end and “Wave 3(Blue)” will start.
If the assumption is correct, The “wave (3)” will grow to the levels of 1.090-1.080. In this scenario, stop loss level is 1.145.