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23.03.202307:54 Forex Analysis & Reviews: Elliott wave analysis of EUR/USD for March 23, 2023

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EUR/USD broke clearly above resistance at 1.0804 to confirm that wave 4 did complete with the test of 1.0516 and a new impulsive rally in wave 5 is now in motion towards at least 1.1244 and likely closer to resistance at 1.1424.

The former resistance at 1.0804 should now act as support. It doesn't mean we can't see a temporary break below this support, but it should be short-lived and ideally stay above support at 1.0755.

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