EURUSD: Elliott wave analysis and forecast for 12.05.23 – 19.05.23
Main scenario: consider short positions from corrections below the level of 1.1093 with a target of 1.0500 – 1.0334.
Alternative scenario: breakout and consolidation above the level of 1.1093 will allow the pair to continue rising to the levels of 1.1300 – 1.1500.
Analysis: a bearish wave of larger degree A is presumably completed on the daily chart, with the fifth wave (5) of А formed as its part. A bullish wave B started developing. On the H4 chart, apparently, the first counter-trend wave 1 of (A) of B finished forming, and a correction continues unfolding as second wave 2... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/3BhJB27
