EURUSD: Elliott wave analysis and forecast for 26.07.24 – 02.08.24

Highlights and key points Main scenario: consider long positions from corrections above the level of 1.0772 with a target of 1.1141 – 1.1273. A buy signal: after the level of 1.0772 is broken. Stop Loss: 1.0700; Take Profit: 1.1273. Alternative scenario: breakout and consolidation below the level of 1.0772 will allow the pair to continue declining to the levels of 1.0663 – 1.0500. A sell signal: after the level of 1.0772 is broken. Stop Loss: 1.0850; Take Profit: 1.0500.Main scenario