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EURUSD, Elliot Wave Analysis

11/8/2022 11:38 AM

A fall is possible.

On the daily chart, the downward fifth wave of the higher level (5) of А develops, within which the wave 5 of (5) develops. Now, a correction ended as the fourth wave of the lower level iv of 5, and the fifth wave v of 5 is forming, within which a local correction is ending as the wave (ii) of v. If the assumption is correct, the EUR/USD pair will fall to the area of 0.9470–0.9300. In this scenario, critical stop loss level is 1.0101.

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