FX.co ★ Elliott wave analysis of EUR/USD for August 8, 2023

We continue to look for a small corrective decline closer to support at 1.0950 from where renewed upside pressure is expected towards short-term important resistance at 1.1048. Only a break above will activate a S/H/S bottom for a rally towards resistance at 1.1150. It will finally confirm the correction from 1.1276 has been completed and a new rally to 1.1444 is unfolding.