EURUSD: Elliott wave evaluation and forecast for 16.08.22 – 26.08.22

EURUSD: Elliott wave evaluation and forecast for 16.08.22 – 26.08.22

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Essential state of affairs: contemplate lengthy positions from corrections above the extent of 0.9947 with a goal of 1.0618 – 1.0787.

Different state of affairs: breakout and consolidation under the extent of 0.9947 will permit the pair to proceed declining to the degrees of 0.9800 – 0.9700.

Evaluation: a corrective wave of bigger diploma B presumably continues growing 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 began growing. An ascending wave i of 1 of (C) is presumably unfolding on the H4 chart. Inside it fashioned the primary counter-trend wave of smaller diploma (i) of i of 1 of (C), and a neighborhood correction is nearing completion because the second wave (ii) of i of 1 of (C). If the presumption is right, the pair will proceed to rise to the degrees of 1.0618 – 1.0787 after the correction is accomplished. The extent of 0.9947 is essential on this state of affairs. Its breakout will permit the pair to proceed falling to the degrees of 0.9800 – 0.9700.



Value chart of EURUSD in actual time mode

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