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EURUSD, Elliot Wave Analysis

3/20/2023 10:26 AM

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

On the daily chart, the upward wave B develops, within which the entry first wave of the lower level 1 of (А) of B formed, and a downward correction develops as the second wave 2 of (А) of B. Now, the wave a of 2 has formed, and a local correction is developing as the wave b of 2, within which the wave (c) of b is forming. If the assumption is correct, the EUR/USD pair will fall to the area of 1.0325–1.0165. In this scenario, critical stop loss level is 1.0856.




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