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Monday, February 5, 2024

Elliott Wave Analysis of EUR/USD - Close to a bottom near 1,0760

 


Elliott Wave Analysis of EUR/USD - Close to a bottom near 1,0760


In my January 24 post I call for a continuation lower towards support near 1,0724 and we still could see this support tested, but we might not see EUR/USD reach that support, as we see a support just above at 1,0760 too, which could be enough to complete wave (2) and set the stage for the next impulsive rally in wave (3) higher towards at least 1,1885 and likely higher. 

Short-term a break above minor resistance at 1,0898 will confirm that wave (2) has completed and wave (3) higher is in motion.  

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