EURUSD: Elliott wave analysis and forecast for 06.01.23 – 13.01.23
Main scenario: consider long positions above the level of 1.0361 with a target of 1.1020 – 1.1300 once a correction formed. Alternative scenario: breakout and consolidation below the level of 1.0361 will allow the pair to continue declining to the levels of 1.0240 – 1.0114. Analysis: a bearish wave of larger degree A is presumably completed on the daily chart, with the fifth wave (5) of А formed as its part. Apparently, an ascending wave B started developing on the H4 chart, with the first counter-trend wave of smaller degree 1 of (A) of B forming as its part. H1... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider long positions above the level of 1.0361 with a target of 1.1020 – 1.1300 once a correction formed.
Alternative scenario: breakout and consolidation below the level of 1.0361 will allow the pair to continue declining to the levels of 1.0240 – 1.0114.
Analysis: a bearish wave of larger degree A is presumably completed on the daily chart, with the fifth wave (5) of А formed as its part. Apparently, an ascending wave B started developing on the H4 chart, with the first counter-trend wave of smaller degree 1 of (A) of B forming as its part. H1... Read full author’s opinion and review in blog of #LiteFinance
