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14.02.2023 08:25 AM
EUR/USD moved lower as expected and printed a low at 1.0655 just above our ideal target of 1.0650. The following break above minor resistance at 1.0707 confirms that wave 4 has been completed and wave 5 higher towards 1.1391 now is in progress.
As we expect, wave 5 to be in motion also means that the 1.0655 low must not be broken again or we will have to review our preferred count.
Now, a break above resistance at 1.0791 will add confidence in our count of wave 5 being in motion and the expected move higher towards 1.1391.
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