Elliott wave analysis of EUR/USD for December 9, 2021

We are looking for a break above minor resistance at 1.1383 as confirmation that wave 2 has completed and wave 3 is ready to take over for the next impulsive rally towards the ideal target near 1.3993.

Short-term we see support near 1.1227 only a break below here will extend wave 2 closer to the 1.1139, but the low of wave is either in place or close to be in place.

The material has been provided by InstaForex Company - www.instaforex.com

from RobotFX