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EURUSD, Elliot Wave Analysis

2/28/2023 10:25 AM

The price is in a correction and a fall is possible.

On the daily chart, the downward wave of the higher level А ended, and the development of the upward wave B started, within which the entry first wave of the lower level 1 of (А) of B formed. Now, a downward correction is developing as the second wave 2 of (А) of B, and the wave a of 2 is forming. If the assumption is correct, the EUR/USD pair will fall to the area of 1.0325–1.0163. In this scenario, critical stop loss level is 1.0809.

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