FX.co ★ Elliott wave analysis of EUR/USD for February 4, 2022

EUR/USD is now testing resistance at 1.1483 and we will likely see a temporary set-back towards to near 1.1290 before the next real push higher through resistance at 1.1483 to confirm that wave 2 has completed and wave 3 now is in motion.

The ideal target for wave 3 is see near 1.3993, but for now look for a temporary set-back to 1.1290 and then a strong rally higher as wave iii of 3 takes over.