If we start drawing Elliot wave on EURUSD daily chart with minute degree where we will find out EURUSD currently trading towards 1.1850 at corrective “wave C” in next 2-3 months and it completed all motive waves where find out Wave 5 top 1.2352 (approx) Which may be the Wave 1 top on minor degree.
Since the “Wave-1” starts all the the motive wave are matched with Elliot wave rules.
Now if we talk about entire corrective wave mostly corrective waves formation are 3-5-3 or 5-3-5 Zigzag pattern or flat correction or may be a regular flat. So if we correct “Wave B” high at 1.2250(approx) next move towards 1.2000 level in the near future.
Since the “Wave-1” starts all the the motive wave are matched with Elliot wave rules.
Now if we talk about entire corrective wave mostly corrective waves formation are 3-5-3 or 5-3-5 Zigzag pattern or flat correction or may be a regular flat. So if we correct “Wave B” high at 1.2250(approx) next move towards 1.2000 level in the near future.
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