FX.co ★ Elliott wave analysis of EUR/USD for February 15, 2023

EUR/USD rallied nicely and tested strong resistance at 1.0791 but wasn't able to break clearly above on the first try. After a temporary correction towards 1.0684, we should see a new and this time likely successful break above resistance at 1.0790 for a continuation higher towards 1.1109 in wave 5.

So, look for a little more downside closer to 1.0684 to complete the minor correction from 1.0804 for a new impulsive rally towards 1.0933 and 1.1109 as the next upside targets.