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EUR/USD: Elliott waves (Jan. 27)

Weekly. The pair keeps forming correctional wave [D], which is part of the horizontal triangle. When this wave is complete, we’ll see a decline in the wave [E].

Chart. Weekly EUR/USD

Daily. Wave (y) of [D] is taking the form of a double Zigzag. EUR/USD has started forming the final upward impulse wave [C]. We expect the pair to rise this week.

Chart. Daily EUR/USD

H4. Impulse growth began to emerge, so it’s too early to talk about the detailed layout of the recovery. However, in general, the pair is expected to rise this week.

Chart. H4 EUR/USD

Roman Petuchov for FBS

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