Elliott waves analysis – EUR/USD. Continuing the impulse growth.

The market has come alive. As anticipated, the price continued to rise. However, it was not without its adventures. In an attempt to shake off unnecessary „passengers,“ there was a swift retracement, which was quickly bought up. The price not only returned to previous levels but also significantly exceeded them.

Currently, an extension is likely forming in wave iii of the upward impulse. This maintains good potential for further growth, roughly as schematically indicated in the chart above. Therefore, previously opened buy positions are recommended to be held until the previously indicated target of 1.1000 and higher is reached.