Timeframe: 4h
The EUR/USD chart shows a clear Elliott Wave pattern, with the pair in a bullish impulse cycle. Wave (iii) recently peaked at 1.14736, and the price is now consolidating in Wave (iv) within an ascending channel. Multiple EMAs, especially the 200 EMA near 1.09339, support the uptrend. Wave (v) is projected to target 1.15150, as shown by the red path.
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