EURUSD: Elliott wave analysis and forecast for 01.04.22 – 08.04.22

Main scenario: consider long positions from corrections above the level of 1.0806 with a target of 1.1487 – 1.1690.

Alternative scenario: breakout and consolidation below the level of 1.0806 will allow the pair to continue declining to the levels of 1.0628 – 1.0450.

Analysis: daily chart: the first wave of larger degree 1 of (3) is formed, and a downside correction appears to have formed as wave 2 of (3). Apparently, the third wave 3 of (3) has started developing on the H4 chart. The first wave of smaller degree (i) of i of 3 has formed on the H1 chart, and a corrective wave (ii) of i is currently developing. If the presumption is correct, the pair will continue to rise in wave (iii) of i to the levels of 1.1487 – 1.1690 once the correction is over. The level of 1.0806 is critical in this scenario. Its breakout will allow the pair to continue falling to the levels of 1.0628 – 1.0450.



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}} )

LEAVE A COMMENT

Your email address will not be published.