FX.co ★ Elliott wave analysis of EUR/USD for November 22, 2023

EUR/USD found resistance at 1.0945 and we could see an inverse S/H/S bottom unfolding. If this is the case, we will likely see a temporary setback to support near 1.0785 before a rebound through resistance at 1.0945 for a rally towards the former high at 1.1275 and ultimately, a continuation higher towards 1.2930.

Short-term we will be looking for a corrective move closer to support at 1.0785 and then, higher from there.