FX.co ★ Elliott wave analysis of EUR/USD for November 13, 2023

EUR/USD has seen an overlapping structure from 1.0448 best described as an expanding diagonal. This pattern was completed at 1.0756. This means that a correction now should be unfolding towards the bottom of sub-wave four between 1.0514 to 1.0565 before the next impulsive rally higher towards 1.1073 and above.

Short-term we will be looking for support near 1.0633 and 1.0565.