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27.10.202306:03 Forex Analysis & Reviews: Elliott wave analysis of EUR/USD for October 27, 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.

Exchange Rates 27.10.2023 analysis

After a minor correction from 1.0695, EUR/USD is ready for the next push higher towards at least 1.0805 and most likely above here too. In the long term, we are looking for EUR/USD to move towards 1.2085 as the next major upside target as wave 3 gathers strength.

Support remains seen near 1.0521 for the next push above 1.0695.

Torben Melsted
Analytical expert of InstaForex
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