empty
 
 
fr
Assistance
Ouverture rapide de compte
Plateforme de trading
Déposer / Retirer

13.03.202308:24 Forex Analysis & Reviews: Elliott wave analysis of EUR/USD on March 13, 2023

Exchange Rates 13.03.2023 analysis

EUR/USD completed its corrective wave 4 sooner than expected and only managed to reach a low of 1.0524 before turning around and moving higher through the double bottom neckline resistance at 1.0710. The first upside target to look for is seen at 1.0804 and then 1.1033 on the way toward the 1.1248 target and possibly even closer to 1.1424 to complete wave 5 of the rally from 0.9535.

In the short term, we see the former resistance at 1.0710 act as support now. If broken, a move closer to 1.0662 should be expected before the next push higher toward 1.0804 and above.

*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
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

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