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28.07.202306:02 Forex Analysis & Reviews: Elliott wave analysis of EUR/USD for July 28, 2023

Exchange Rates 28.07.2023 analysis

EUR/USD failed to clear resistance at 1.1147 and instead turned lower to break below support at 1.1033 for a move closer to the support line from 0.9536. This is expected to protect the downside for another rally higher towards the 1.1444 target and possibly higher.

Short-term a break above minor resistance at 1.1010 will be a strong indication that wave ii has completed, while a break above resistance at 1.1147 is needed to confirm that wave ii has finished and wave iii towards at least 1.1444 is unfolding.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Torben Melsted,
Analytical expert of InstaSpot
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