24.02.202310:33 Forex Analysis & Reviews: Elliott wave analysis of EUR/USD for February 24, 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 continues to follow the expected path lower towards the ideal corrective target seen at 1.0498 to complete wave 4 and set the stage for a new impulsive rally in wave 5 towards 1.1360 - 1.1390.

Short-term we see minor resistance near 1.0626 that ideally will cap the upside for more downside pressure towards the 1.0498 target.

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.