FX.co ★ Elliott wave analysis of EUR/USD for October 4, 2023

A final dip to test the ideal support at 1.0435 should still be seen, as long as minor resistance at 1.0494 is able to cap the upside. A direct break above minor resistance at 1.0494 will indicate that wave 2 has been completed and wave 3 higher towards 1.2085 is ready to unfold. However, we will need a break above resistance at 1.0672 to confirm wave 2 has been completed and wave 3 is in motion.