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EURUSD, Elliot Wave Analysis

1/31/2023 10:20 AM

Growth is possible.

On the daily chart, the downward wave of the higher level А ended, and the upward wave B develops, within which the entry first wave 1 of (А) of B develops. Now, the third wave of the lower level iii of 1 has formed, a local correction has ended as the fourth wave iv of 1, and the fifth wave v of 1 is developing, within which the wave (iii) of v is forming. 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 1.0755.




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