EURUSD: Elliott wave analysis and forecast for 21.07.23 – 28.07.23
Main scenario: consider long positions above the level of 1.1011 with a target of 1.1480 – 1.1700 once a correction formed. Alternative scenario: breakout and consolidation below the level of 1.1011 will allow the pair to continue declining to the levels of 1.0827 – 1.0630. Analysis: a bearish wave of larger degree A is presumably completed on the daily chart. A bullish wave B started unfolding, with the first counter-trend wave 1 of (A) of B formed as its part. A correction appears to have formed as the second wave 2 of (A) of B on the H4 chart, and... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider long positions above the level of 1.1011 with a target of 1.1480 – 1.1700 once a correction formed.
Alternative scenario: breakout and consolidation below the level of 1.1011 will allow the pair to continue declining to the levels of 1.0827 – 1.0630.
Analysis: a bearish wave of larger degree A is presumably completed on the daily chart. A bullish wave B started unfolding, with the first counter-trend wave 1 of (A) of B formed as its part. A correction appears to have formed as the second wave 2 of (A) of B on the H4 chart, and... Read full author’s opinion and review in blog of #LiteFinance
