Thu, Mar 23, 2023 @ 11:04 GMT
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EUR/USD: Weakness Can Resume from 1.08

EURUSD is coming sharply down since last week, following FED; ECB and BoE policy decisions. We can see strong sell-off through the rising trendline support which looks like an impulse so ideally there will be more weakness coming. An RSI divergence also suggests that bulls are tired and bears are ready to take control. However, we will be tracking only a three-wave drop; ideally, an A-B-C pullback, currently with wave (A) is at the support, so more weakness can be seen after wave (B) rally. Perfect resistance for the next sell-off is at 1.08.

Elliott Wave Financial Service
Elliott Wave Financial Service
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