EURUSD: Elliott wave evaluation and forecast for 05.08.22 – 12.08.22.

EURUSD: Elliott wave evaluation and forecast for 05.08.22 – 12.08.22.

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Essential situation: contemplate lengthy positions from corrections above the extent of 1.0090 with a goal of 1.0618 – 1.0787.

Various situation: breakout and consolidation beneath the extent of 1.0090 will permit the pair to proceed declining to the degrees of 0.9959 – 0.9800.

Evaluation: A corrective wave of bigger diploma B presumably continues creating as irregular flat (А)-(В)-(С) on the weekly chart. Apparently, wave (В) of B is accomplished on the each day chart, with wave С of (B) fashioned as its half. A bullish wave (С) of B has presumably began creating. An ascending wave i of 1 of (C) is presumably unfolding on the H4 chart, with the primary counter-trend wave of smaller diploma (i) of i of 1 of (C) forming as its half. If the presumption is right, the pair will proceed to rise to the degrees of 1.0618 – 1.0787. The extent of 1.0090 is essential on this situation. Its breakout will permit the pair to proceed falling to the degrees of 0.9959 – 0.9800.



Value chart of EURUSD in actual time mode

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