EURUSD: Elliott wave analysis and forecast for 25.02.22 – 04.03.22

Main scenario: consider short positions from corrections below the level of 1.1393 with a target of 1.0988 – 1.0850. 

Alternative scenario: breakout and consolidation above the level of 1.1393 will allow the pair to continue rising to the levels of 1.1906 – 1.2266. 

Analysis: Daily time frame: the first wave of larger degree 1 of (3) is formed, and a downside correction continues forming as wave 2 of (3). On the H4 chart, wave c of 2 appears to continue unfolding, with a local correction (iv) of с forming as its part. On the H1 chart, wave (v) of с of 2 is forming, with wave iii of (v) developing as its part. If the presumption is correct, the pair will continue to drop to the levels of 1.0988 – 1.0850. The level of 1.1393 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels of 1.1906 – 1.2266.

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}} )


Your email address will not be published. Required fields are marked *