EURUSD: Elliott wave analysis and forecast for 12.01.24 – 19.01.24

Main scenario: consider short positions from corrections below the level of 1.1018 with a target of 1.0794 – 1.0710.

Alternative scenario: breakout and consolidation above the level of 1.1018 will allow the pair to continue rising to the levels of 1.1141 – 1.1274.

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 and a corrective second wave 2 of (A) of B formed as its parts. Apparently, the third wave 3 of (A) of B is developing on… Read full author’s opinion and review in blog of #LiteFinance