FX.co ★ Elliott wave analysis of EUR/USD for March 30, 2022

EUR/USD is again testing resistance near 1.1138 and a break above here (which is expected), will be a strong indication, that wave 2 has completed and call for more upside towards strong resistance at 1.1495. Only above resistance at 1.1495 will we have the needed confirmation that wave 2 has completed and wave 3 higher towards 1.3993 is in motion.

Support is now seen at 1.0944, which must be able to protect the downside or renewed downside pressure will be seen.