FX.co ★ Elliott wave analysis of EUR/USD for June 27, 2022

We are looking for EUR/USD to continue higher to the key resistance at 1.0787. A break above here will finally confirm that circle wave 2 has completed with the test of 1.0349 and circle wave 3 is in motion for an ultimate break above circle wave 1 at 1.2556.

However, for now, we stay focused on the test and ideally a break above 1.0787. Only an unexpected break below support at 1.0349 will call for a deeper correction in circle wave C and circle wave 2.