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FX.co ★ Elliott wave analysis of EUR/USD for April 3, 2023

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Forex Analysis:::2023-04-03T05:31:03

Elliott wave analysis of EUR/USD for April 3, 2023

Elliott wave analysis of EUR/USD for April 3, 2023

EUR/USD is most likely still in wave 2/. We should see wave C/ of 2/ move lower to re-test support near 1.0723 before completing the consolidation and setting the stage for the next impulsive rally higher towards 1.1248 and possibly closer to resistance at 1.1424.

Short-term we see resistance near 1.1823 that ideally will cap the upside for the final dip closer to 1.0723 to complete wave 2/ and a turn higher in wave 3/.

Analyst InstaForex
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