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

EUR/USD has consolidated just above the double bottom neckline near 1.0710 and is ready to push higher towards the next minor resistance at 1.0807. EUR/USD is making its way higher to the 1.1248 target and possibly even closer to 1.1424 before wave 5 is in place.

Support is seen at 1.0710 and then at 1.0636 which we expect will be able to act as a floor for the next impulsive rally higher towards 1.1248 and possibly higher.