EUR/USD: Elliott Wave Analysis and Forecast for 16.10.26–23.10.26

Major Takeaways Main scenario: Once the correction has been completed, consider short positions below the level of 1.1320 with a target of 1.1040–1.0895. A sell signal: the local correction ends and the price holds below 1.1320. Stop Loss: above 1.1365, Take Profit: 1.1040–1.0895. Alternative scenario: Breakout and consolidation above the level of 1.1320 will allow the pair to continue rising to the levels of 1.1446–1.1650. A buy signal: the level of 1.1320 is broken to the ups