FX.co ★ Elliott wave analysis of EUR/USD for January 30, 2023

EUR/USD traded in a very narrow range between 1.0835 - 1.0900 last week, but it should just be a matter of time before support at 1.0835 breaks and confirms that wave C of 4 is well underway towards the ideal target near 1.0481.

Once the correction in wave 4 completes, we will be looking for a new impulsive rally towards at least 1.1625 and possibly even closer to resistance near 1.2350.