FX.co ★ Elliott wave analysis of EUR/USD for September 19, 2022

EUR/USD has just tested the 61.8% corrective target at wave 1. We are now looking for a break above minor resistance at 1.0198 and, more importantly, for a break above resistance at 1.0369. This price action will confirm, that EUR/USD has bottomed out. We could make a conclusion that a new impulsive rally is unfolding towards 1.2350 and ultimately above here too.