EURUSD: Elliott wave analysis and forecast for 28.01.22 – 04.02.22

Main scenario: consider short positions from corrections below the level of 1.1483 with a target of 1.0988 – 1.0720.

Alternative scenario: breakout and consolidation above the level of 1.1483 will allow the pair to continue rising to the levels of 1.1690 – 1.1906.

Analysis: Daily chart: the first wave of larger degree 1 of (3) is formed, and a downside correction continues forming as wave 2 of (3). Wave c of 2 appears to continue unfolding on the H4 chart, with wave (iii) of с forming as its part. On the H1 chart, a corrective wave iv of (iii) finished… Read full author’s opinion and review in blog of #LiteForex