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EURUSD, Elliot Wave Analysis

1/17/2023 10:25 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 entry first wave 1 of (А) of B is forming, within which the third wave of the lower level iii of 1 has developed, a local correction has ended as the fourth wave iv of 1, and the fifth wave v of 1 is developing. If the assumption is correct, the EUR/USD pair will grow to the area of 1.1100–1.1300. In this scenario, critical stop loss level is 1.0713.

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