EURUSD is trading higher, now breaking out of a triangle pattern after US CPI figures. We know that triangle can occur in wave B and not in wave two, therefore we think that upside can be limited, possibly at around 1.145.
However, important will be to wait on intraday sell-off back to 1.1300 or lower to confirm the end of a corrective recovery that is underway since November 2021.
EUR/USD 4h Elliott Wave analysis
Credit: www.fxstreet.com – Source link