EURUSD's 10-Month Bear Wave Is About to End

EURUSD has been digging lower since January 2021. It appears this 10-month bearish wave is about to end as we can count the minimum waves in place.

The 10-month Elliott wave pattern would be considered a double zigzag labeled ((w))-((x))-((y)).

Each of the waves ((w)) and ((y)) are zigzag patterns. Additionally, the whole pattern has retraced back to 1.16 which contains the previous fourth wave (not shown).

As a result, this wave lower in 2021 is about to turn higher. When it does, we should see a multi-month rise that pushes above 1.23