EURUSD: Elliott wave analysis and forecast for 20.10.23 – 27.10.23

Main scenario: consider long positions from corrections above the level of 1.0446 with a target of 1.0858 – 1.0956.

Alternative scenario: breakout and consolidation below the level of 1.0446 will allow the pair to continue declining to the levels of 1.0256 – 1.0100.

Analysis: a bearish wave of larger degree A is presumably completed on the daily chart. A bullish wave B started unfolding, with the first counter-trend wave 1 of (A) of B formed as its part. A downside correction appears to be forming as the second wave 2 of (A) of B on the H4 chart, with wave… Read full author’s opinion and review in blog of #LiteFinance