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EURUSD, Elliot Wave Analysis

12/20/2022 10:41 AM

The price is in a correction and may grow.

On the daily chart, the downward wave of the higher level А ended, within which the fifth wave (5) of А formed, and the upward wave B develops. Now, the first entry wave 1 of (А) of B is developing, within which the third wave of the lower level iii of 1 has formed, and a local correction is developing as the fourth wave iv of 1. If the assumption is correct, the EUR/USD pair will grow to the area of 1.1000–1.1196. In this scenario, critical stop loss level is 1.0348.




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