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EURUSD, Elliot Wave Analysis

8/16/2022 11:26 AM

Growth is possible.

On the daily chart, a downward correction of the higher level ended as the wave (B), within which the wave C of (B) formed, and the upward wave (C) started. Now, the first entry wave of the lower level (i) of i of 1 of (C) is developing, within which the wave i of (i) has formed, and the local correction is developing as the wave ii of (i). If the assumption is correct, after the end of the correction, the EUR/USD pair will grow to the area of 1.0612–1.0787. In this scenario, critical stop loss level is 1.0000.

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