empty
23.11.2023 07:55 AM
Elliott wave analysis of EUR/USD for November 23, 2023

We have seen EUR/USD move lower in a temporary corrective wave, which we expect will be a bit deeper than what we have seen till now. We expect minor resistance near 1.0922 will cap the upside for a move closer to support at 1.0783 from where the next impulsive rally through the neckline resistance at 1.0965 is expected. A break above 1.0965 will activate the S/H/S bottom for a rally towards the former peak at 1.1275.

For now, look for a corrective decline closer to support at 1.0783 and then a new impulsive rally from there.

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Analysis for GBP/USD on March 21, 2025

The wave structure for GBP/USD remains somewhat ambiguous, but overall manageable. At present, there's still a high probability of a long-term downward trend developing. Wave 5 has taken

Chin Zhao 18:42 2025-03-21 UTC+2

Analysis for EUR/USD on March 21, 2025

The EUR/USD pair saw no change on Friday. There was no news background in the direct sense of the word today, so the market had nothing to respond

Chin Zhao 18:39 2025-03-21 UTC+2

Analysis for EUR/USD on March 20, 2025

The wave structure on the 4-hour chart for EUR/USD is at risk of transforming into a more complex formation. A new downtrend structure started forming on September 25, which took

Chin Zhao 18:37 2025-03-20 UTC+2

GBP/USD Analysis – March 18th

The wave structure for GBP/USD remains somewhat ambiguous yet generally clear. At present, there is a high probability that a long-term downward trend is forming. Wave 5 has taken

Chin Zhao 18:45 2025-03-18 UTC+2

EUR/USD Analysis – March 18th

The wave structure on the four-hour chart is at risk of transforming into a more complex formation. A new downward wave structure began forming on September 25, taking the shape

Chin Zhao 18:43 2025-03-18 UTC+2

EUR/USD Analysis – March 17th

The 4-hour wave analysis for EUR/USD is at risk of transforming into a more complex structure. A new downward trend began on September 25, taking the form of a five-wave

Chin Zhao 17:34 2025-03-17 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, #Ethereum, and #Litecoin – March 17th

GBP/USD Since January, an upward wave has been forming on the GBP/USD chart. The wave structure analysis shows that this wave remains incomplete. After breaking through another resistance level

Isabel Clark 09:34 2025-03-17 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, #Bitcoin, and #Ripple – March 17th

Since February 3 of this year, the chart of the euro has been forming an upward wave zigzag. The wave structure analysis indicates that a correction is forming

Isabel Clark 09:23 2025-03-17 UTC+2

Weekly Forecast BasSimplified Wave Analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, Ethereum, and Litecoin on March 10th

Analysis:The upward wave that started on January 13th remains incomplete, forming a new segment of the dominant global uptrend. The pair is currently trading within a narrow range between opposing

Isabel Clark 09:26 2025-03-10 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, GOLD, and Bitcoin on March 10th

Analysis:Since early February, the euro has been forming an upward zigzag wave, marking the beginning of a new bullish trend. The pair has reached a significant potential reversal zone

Isabel Clark 09:20 2025-03-10 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.