EURUSD: Elliott wave analysis and forecast for 18.02.2022 – 25.02.2022

Main scenario: consider long positions from corrections above the level of 1.1119 with a target of 1.1906 – 1.2266. 

Alternative scenario: breakout and consolidation below the level of 1.1119 will allow the pair to continue declining to the levels of 1.0988 – 1.0850. 

Analysis: Daily chart: the first wave of larger degree 1 of (3) is formed, and a downside correction appears to have formed as wave 2 of (3). The third wave 3 of (3) appears to be forming on the H4 chart, with the first counter-trend wave of smaller degree i of 3 developing inside. Wave (i) of… Read full author’s opinion and review in blog of #LiteFinance