FX.co ★ Elliott wave analysis of EUR/USD for July 11, 2022

We continue to look for a final spike lower towards the 78.6% corrective target at 0.9902 from where a new impulsive rally in wave 3 is expected. In the short term, we see resistance near 1.0340 which ideally will be able to cap the upside for the expected spike lower.

Once it's confirmed that wave 3 is in motion, we have the long-term target above the peak of wave 1 at 1.6038.