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EURUSD, Elliot Wave Analysis

11/22/2022 10:38 AM

Growth is possible.

On the daily chart, the downward wave of the higher level А ended, within which the fifth wave (5) of А formed, and the development of the upward wave B started. Now, the first entry wave 1 of (1) of B is developing, and the third wave of the lower level iii of 1 is forming. If the assumption is correct, the EUR/USD pair will grow to the area of 1.0790–1.1196. In this scenario, critical stop loss level is 1.0092.

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