empty
 
 
03.02.2023 08:05 AM
Elliott wave analysis of EUR/USD for February 3, 2023

This image is no longer relevant

EUR/USD broke strongly above the former top at 1.0933 after the Fed's decision to hike only 25 bps and a follow-up with a dovish press conference. However, the spike was almost as strong as the break was. After peaking at 1.1033 EUR/USD has turned lower with the same force and back below the former resistance at 1.0933 which now opens a possible alternative count that sees the dip from the peak at 1.0933 to 1.0802 as wave A and the rally to 1.1033 as wave B of an expanded flat and wave C lower to the possible target area between 1.0437 - 1.0500 as being in motion.

For us to dismiss the alternative count, we need a direct break back above minor resistance at 1.1002 which would call for a continuation higher to 1.1393.

Only time will tell, but it's a good reminder that 4 waves can be very complex and hard to read in real-time and we always need to keep the options and possible alternative scenarios open.

Torben Melsted,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback