FX.co ★ Elliott wave analysis of EUR/USD for September 10, 2021

EUR/USD has seen the expected small correction from 1.1909. It is possible that the minor correction needs to move a bit lower to 1.1761 to complete the correction and set the stage for the next impulsive rally towards 1.2243. If so, it may even reach the next larger target level of 1.3993.

In the short term, a break above minor resistance at 1.1854 will indicate the correction has completed and the impulsive rally is developing towards 1.2243.