EURINR Elliott Wave and Neo Wave Analysis

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 EURINR hourly continuous chart


As shown in the above chart, prices have completed the most complex correction after forming the top. This means that correction is still ongoing and it can now move even further, as lower highs and lower lows are intact on short term time frame.

Wave theory suggests that, prices have completed wave a in a Neo Wave diametric pattern followed by wave b up in a complex structure and now it is moving down in wave c in impulse fashion. This wave c can now test 85.5 over short to medium term.

The summation is EURINR is negatively poised and can sink towards 85.5-85 levels over short to medium term.


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