empty
 
 
21.06.2022 07:05 AM
Elliott wave analysis of EUR/USD for June 21, 2022

This image is no longer relevant

Will we see EUR/USD continue to stay above key-support at 1.0340 (bullish count) or will we see EUR/USD ultimately break below 1.0340 for a move closer to 0.9900 (bearish count)? We still prefer the bullish scenario. In this context, the currency pair has settled above the key support at 1.0340 for a break above the minor resistance at 1.0787 confirming, that circle wave 2 has completed and circle wave 3 is developing for an ultimate break above circle wave 1 at 1.2556 on the way higher towards 1.6038 and above. For now, the question remains whether the key support at 1.0340 will protect the downside for a break above 1.0787 (the bullish outlook) or the key support at 1.0340 will break for a dip closer to 0.9900 (the bearish case).

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback