EUR/USD – Bullish Wave & Invalidation Zone

EUR/USD – Bullish Wave & Invalidation Zone 🚀

Hello traders! 👋

This is an updated Elliott Wave analysis for the EUR/USD market. Based on the weakness of DXY, I am sharing an aggressive bullish idea. However, if the price fails to break key levels and forms a corrective structure, it could indicate USD strength, leading to a bearish reversal.

🔹 Bullish Scenario (Aggressive Idea)
If the market confirms bullish price action and breaks out of the top channel, we can anticipate a wave C impulse, targeting 1.12523 (first range) and potentially 1.19160 (extended range).

🔹 Conservative Approach
A confirmed breakout with price action alongside a corrective structure will strengthen this scenario. Historically, in Wave A, we saw two 1-2 setups before a third-wave impulse, and history may repeat itself.

🔻 Key Invalidation Level: $1.01763
If the price fails to break resistance and moves downward, this analysis will be invalidated, signaling USD strength and a bearish market shift.

💬 What’s your view on this scenario? Let’s discuss in the comments! 👇