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20.07.202306:58 Forex Analysis & Reviews: Elliott wave analysis of EUR/USD for July 20, 2023

Exchange Rates 20.07.2023 analysis

EUR/USD is still heading higher towards the next minor upside target at 1.1444 and in the longer term, towards the major target at 1.2007. We have likely just seen a minor correction complete with the test of 1.1197 and should soon see the next upside attack towards the 1.1444 target. A break above minor resistance at 1.1240 will confirm that the minor correction is complete and the next impulsive rally is unfolding towards the 1.1444 target and possibly even higher.

So, stay focused towards the upside and regard minor downswings as temporary setbacks in a larger uptrend.

*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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