FX.co ★ Elliott wave analysis of EUR/USD for November 14, 2022

EUR/USD has rallied nicely and more upside progress is expected towards at least the 161.8% extension target at 1.0480. With the break above resistance at 1.0302, our preferred scenario of a long-term bottom being in place has been confirmed. So, we will be looking for much more upside progress in the weeks and months ahead.

Of course, it will not be in a straight line, but the downswings should be corrective in nature and only temporary setbacks in the underlying uptrend.