FX.co ★ Elliott wave analysis of EUR/USD for December 17, 2021

The possible triangle that looked to be in play has been invalidated and we are looking for a break above minor resistance at 1.1383 to confirm that wave C and 2 has completed and wave 3 higher towards 1.3993 is unfolding. That said we also have to respect, that a failure to break above minor resistance at 1.1383 will open for a little more downside pressure closer to resistance at 1.1139.