FX.co ★ Elliott wave analysis of EUR/USD for January 25, 2023

EUR/USD is completing the corrective wave from 1.0835 and should soon start a new descent towards the ideal corrective target area between 1.0437 - 1.0500 to complete wave 4 and set the stage for the next impulsive rally in wave 5.

However, for now, it's the correction in wave 4 that is interesting for us. The instrument continues to follow its path as closely as possible. Correction is always hard to read as all possible combinations are available and especially the b-wave wave within a correction is the most difficult to read.