EURUSD: Elliott wave analysis and forecast for 29.12.23 – 05.01.24

Main scenario: consider long positions from corrections above the level of 1.0990 with a target of 1.1200 – 1.1274.

Alternative scenario: breakout and consolidation below the level of 1.0990 will allow the pair to continue declining to the levels of 1.0877 – 1.0723.

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 part. The third wave 3 of (A) of B appears to have started… Read full author’s opinion and review in blog of #LiteFinance