Mon, Jun 05, 2023 @ 17:45 GMT
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EURUSD May Face Some Limited Upside

On the updated count of EURUSD we see price trading in a possible zig-zag correction of a higher degree, with waves A and B already completed. Current bullish rally is wave C then, that can be in final stages if we consider that there is possible to count five subwaves up from 1.0495 swing low. So from an Elliott Wave perspective market may turn south with three waves minimum back to the area of a former wave four, at 1.0760. A sharp impulsive decline beneath that price would indicate that top is in place, so until that happens we need to keep in mind possible extensions up to 1.1000 area.


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