EUR/USD Elliott Wave analysis: Upside can be limited

Gregor Horvat Wavetraders

EURUSD is trading higher, now breaking out of a triangle pattern after US CPI figures. We know that triangle can occur in wave B and not in wave two, therefore we think that upside can be limited, possibly at around 1.145.

However, important will be to wait on intraday sell-off back to 1.1300 or lower to confirm the end of a corrective recovery that is underway since November 2021.

EUR/USD 4h Elliott Wave analysis

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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