20.06.202306:57 Forex Analysis & Reviews: Elliott wave analysis of EUR/USD for June 20, 2023

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/USD completed its wave 2 correction with the test of 1.0635, a bit early as the ideal target would have been near the low of wave A at 1.0516. However, the rally past 1.0779 confirmed that wave C was done and the next impulsive rally in wave 3 towards at least 1.2007 was in motion.

Short-term we wee support in the 1.0782 - 1.0831 area for the next impulsive rally towards 1.1033 and ultimately above here too for the expected rally towards at least 1.2007 and more likely closer to 1.2928, where wave 3 will be 1.618 times the length of wave 1.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.