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EUR/USD Elliott Wave Analysis: Upside Can be Limited

Elliott Wave Financial Service
By Elliott Wave Financial Service

EURUSD is trading higher, now breaking out of a triangle pattern after US CPI figures. We know that triangle can occur in wave B and not in wave two, therefore we think that upside can be limited, possibly at around 1.145.

However, important will be to wait on intraday sell-off back to 1.1300 or lower to confirm the end of a corrective recovery that is underway since November 2021.

EUR/USD 4h Elliott Wave analysis

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
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