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FX.co ★ Elliott wave analysis of EUR/USD for October 12, 2022

Elliott wave analysis of EUR/USD for October 12, 2022

Elliott wave analysis of EUR/USD for October 12, 2022

We do believe, that we can see a final decline closer to 0.9507 as long as minor resistance at 0.9734 is able to cap the upside However, from 0.9507 or upon a break above 0.9734, we will be looking for a new impulsive rally in EUR/USD towards 1.3565 and ultimately above the peak of wave 1 or A at 1.6038.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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