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Wave analysis

13.11.202307:07 Forex Analysis & Reviews: Elliott wave analysis of EUR/USD for November 13, 2023

Exchange Rates 13.11.2023 analysis

EUR/USD has seen an overlapping structure from 1.0448 best described as an expanding diagonal. This pattern was completed at 1.0756. This means that a correction now should be unfolding towards the bottom of sub-wave four between 1.0514 to 1.0565 before the next impulsive rally higher towards 1.1073 and above.

Short-term we will be looking for support near 1.0633 and 1.0565.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Torben Melsted,
Analytical expert of InstaSpot
© 2007-2025
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