(EUR | USD) Forex Trading Analysis Today Forex Forecast | AUG 03, 2023 | EURUSD Analysis

Forex Trading Analysis

I am going to analyze the Euro-USD currency pair let us start with the top to bottom Elliott wave analysis inside the daily time frame the trend is down and the euro-dollar currency pair's daily time frame resistance is present at 1.1 to 75 price level price action is most likely going to drop in a five-way fashion which is going to complete bearish wave an impulse like incoming trading days decisive bullish breakout above 1.1275 resistance area is going to end down Trend in daily chart part of Europe versus United States dollar currency pair

Let us take a look at our time frame price action is printing lower swing highs and lower swing lows to me euro-dollar pair Trend looks down

Four-hour time frame next let us take a look at one-hour time frame the trend is down in one hour chart in our daily resistance is present at the 1.1 to 39 price level price action is most likely going to rise to print a bullish wave to pull back after that I expect bearish Wave 3 impulse lag which offers a chance to join the downtrend in euro dollar pair decisive bullish breakout above 1.1 to 39 resistance level is going to end the downtrend in one hour chart of the Euro versus United States dollar currency pair

More specifically the radical or the highlighted area offers a selling opportunity which is the previous second wave of unlisted degrees take notes you must always try it with money management rules to control risk