EURUSD: Elliott wave analysis and forecast for 25.08.23 – 01.09.23

Main scenario: consider short positions from corrections below the level of 1.1070 with a target of 1.0640 – 1.0450.

Alternative scenario: breakout and consolidation above the level of 1.1070 will allow the pair to continue rising to the levels of 1.1272 – 1.1480.

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