Short term Elliott Wave View in EURUSD suggests the rally from 11.22.2022 low is unfolding as a diagonal. Up from 11.22.2022 low, wave ((i)) ended at 1.0595 and pullback in wave ((ii)) ended at 1.0441. Internal subdivision of wave ((ii)) unfolded as a zigzag structure. Down from wave ((i)), wave (a) ended at 1.0474, wave (b) ended at 1.0539 and third leg wave (c) ended at 1.0441. This completed wave ((ii)) in higher degree. Wave ((iii)) higher is in progress with subdivision as a 5 waves. Up from wave ((ii)), wave (i) ended at 1.0588, and dips in wave (ii) ended at 1.05.
Pair then resumed higher in wave (iii) towards 1.0685 and pullback in wave (iv) ended at 1.0617. Expect pair to rally into a marginal high to end wave (v) of ((iii)). Afterwards, it should pullback in wave ((iv)) to correct cycle from 12.7.2022 low before the rally resumes in wave ((v)). Once wave ((v)) ends, pair should complete at least cycle from 11.22.2022 low and get a larger degree 3 waves pullback. Near term, as far as pivot at 1.0441 low stays intact, expect dips to find support in 3, 7, or 11 swing before the rally resumes.
EURUSD 45 Minutes Elliott Wave Chart
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