This is my Elliott wave idea about EURUSD.
I think that we are in sub-wave (1) (Red) of wave 3 (Black).
Wave C(Black) was completed and definitely switched to a new Uptrend.
If the assumption is correct,
The wave (1) (Red) will grow to the levels of 1.1261-1.1300
After wave (1) (Red) retrace, wave (3) (Red) will grow in the trend direction.
In this scenario, the stop loss level is 1.0989
1Day chart
I think that we are in sub-wave (1) (Red) of wave 3 (Black).
Wave C(Black) was completed and definitely switched to a new Uptrend.
If the assumption is correct,
The wave (1) (Red) will grow to the levels of 1.1261-1.1300
After wave (1) (Red) retrace, wave (3) (Red) will grow in the trend direction.
In this scenario, the stop loss level is 1.0989
1Day chart