EURUSD: Elliott wave analysis and forecast for 27.05.22 – 03.06.22


Main scenario: consider short positions from corrections below the level of 1.0765 with a target of 1.0200 – 1.0000.

Alternative scenario: breakout and consolidation above the level of 1.0765 will allow the pair to continue rising to the levels of 1.0937 – 1.1184.

Analysis: On the daily chart, a bearish correction presumably continues developing as wave of larger degree B, with the final wave (Z) of B forming as its part. Wave С of (Z) appears to be unfolding on the H4 chart, with the fifth wave of smaller degree v of C forming inside. On the H1 chart, wave (iii) of v formed and a local correction is presumably completed as the fourth wave (iv) of v. If the presumption is correct, the pair will continue to drop to the levels of 1.0200 – 1.0000. The level of 1.0765 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels of 1.0937 – 1.1184.



Price chart of EURUSD in real time mode

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

Rate this article:

value ( count title )





Source link

Leave a Reply

Your email address will not be published.