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Elliott Wave Analyst

EUR/USD: possible triangle in wave [x]

EUR/USD: possible triangle in wave [x]

There’s a possible double zigzag in wave D, which is taking place on the four-hour chart. It’s likely that wave [x] is going to end in a form of a triangle. If so, there’ll be an opportunity to have wave [y] of D, so we should keep en eye on 1/8 MM Level as a possible bearish target.

EUR/USD: possible triangle in wave [x]

As we can see on the one-hour chart, wave (e) of [x] is going to end shortly. If we see a pullback from the upper side of the current triangle, then bears are likely going to deliver wave (a).

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