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FX.co ★ Elliott wave analysis of EUR/USD for July 20, 2022

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Forex Analysis:::2022-07-20T04:54:50

Elliott wave analysis of EUR/USD for July 20, 2022

Elliott wave analysis of EUR/USD for July 20, 2022

EUR/USD broke above the minor resistance at 1.0221 with ease and we are now looking for more upside progress towards the key resistance at 1.0627. A break here will be a confirmation that wave 2 has completed and wave 3 higher has taken over.

Once wave 3 is confirmed the long-term target will be way above the peak of wave 1 at 1.6038. But for now, our focus should be fixed on the key resistance at 1.0627 as our guide for the next big move.

Analyst InstaForex
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