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EUR/USD: Elliott waves (Mar. 10)

By Roman Petuchov for FBS

Weekly. The pair keeps forming of the rising correctional wave [D], which is close to completion.

Chart. Weekly EUR/USD

Daily. The wave [D] is a double Zigzag w-x-y. Euro’s now forming the final wave of the second Zigzag [C].

Chart. Daily EUR/USD

H4. We are probably seeing the beginning of construction of wave (5). In the coming days the pair will continue rising within the impulse 3, the market will generate a horizontal correction, after which the growth in the wave 5 will continue. The approximate trajectory is shown at the picture.

Chart. H4 EUR/USD

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