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EUR/USD: Elliott waves (Mar. 3)

Roman Petuchov for FBS

Weekly. EUR/USD keeps forming the rising correctional wave (Y) of [D], which is part of the global horizontal triangle.

Chart. Weekly EUR/USD

Daily. The wave mentioned above is taking form of a double Zigzag w-x-y. The last wave – y – is a simple Zigzag. We are seeing the construction of the second impulse of the Zigzag [C].

Chart. Daily EUR/USD

H4. In the near future the market will continue growing in the wave (5), approximately as shown at the picture.

Chart. H4 EUR/USD

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