The post Eurostoxx (STOXX) pullback should find support [Video] appeared on BitcoinEthereumNews.com.

Short Term Elliott Wave View in Eurostoxx (STOXX) suggests that rally from 11.19.2024 low is unfolding as a 5 waves impulse. Up from 11.19.2024 low, wave (i) ended at 5036.24. Pullback in wave (ii) unfolded as a zigzag Elliott Wave structure. Down from wave (i), wave a ended at 4966.44 and wave b ended at 5031.56. Wave c lower ended at 4920.64 which completed wave (ii) in higher degree. The Index resumed higher in wave (iii) towards 5260.28 and pullback in wave (iv) ended at 5131.76. Final leg wave (v) ended at 5314.29 which completed wave ((i)) in higher degree. Pullback in wave ((ii)) is now in progress to correct cycle from 11.19.2024 low in 3, 7, or 11 swing. Down from wave ((i)), wave (a) ended at 5174.01. Wave (b) rally is expected to fail below 5314.29, then the Index turns lower in wave (c) of ((ii)). Near term, as far as pivot at 4920.64, and more importantly above 11.19.2024 low at 4688.68, expect dips to find buyers in 3, 7, or 11 swing for further upside. STOXX one-hour Elliott Wave chart from 1.31.2025 Eurostoxx (STOXX) [Video] Source: https://www.fxstreet.com/news/elliott-wave-view-eurostoxx-stoxx-pullback-should-find-support-video-202502040442

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Filed under: News - @ February 4, 2025 5:26 am