EUR/USD Elliott Wave Analysis: Be Aware Of More Weakness

The USD is coming up vs EUR despite hawkish ECB and dovish FED on Friday, so this can be a temporary contra-trend reaction. Looking at DXY, we are observing two wave counts where both suggests more weakness but after higher prices that can be seen in the near-term. Resistance is at 93.00-93.20.

EURUSD is also seen in a reversal mode that should be made by minimum three waves so be aware of more weakness in the near-term, possibly even to 1.1730.

EUR/USD 4h Elliott Wave analysis chart

September 01, 2021 at 11:58PM
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