FX.co ★ Elliott wave analysis of EUR/USD for January 6, 2023

EUR/USD has now made a tiny new low below the former low at 1.0519 and we are now at the final stages of the wave iv/ correction. We could still see EUR/USD dip closer to the ideal target at 1.0470, but it's not necessary and wave v/ higher towards 1.0928 will take over soon.

Short-term a break above minor resistance at 1.0567 will confirm that wave iv/ has completed and wave v/ is in motion with the target set on 1.0928.