EURUSD: Elliott wave analysis and forecast for 25.09.20 – 02.10.20

Main scenario: consider short positions from corrections below the level of 1.1877 with a target of 1.1472 – 1.1335.

Alternative scenario: breakout and consolidation above the level of 1.1877 will allow the pair to continue rising to the levels of 1.2019 – 1.2100.

Analysis: Presumably, the first wave 1 continues forming in the third wave (3) of larger degree on the daily time frame. On the H4 time frame, the third wave iii of 1 formed and a local correction continues developing as the fourth wave iv of 1. Apparently, wave (с) of iv is developing on the H1 time…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>