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EUR/USD: Elliott waves (Apr. 21)

By Roman Petuchov

Weekly. EUR/USD is forming the wave (Y) of [D] of the convergent horizontal triangle.

Chart. Weekly EUR/USD

Daily. The wave mentioned above is taking form of a double Zigzag. At present, euro’s forming the final zigzag [A] - [B] - [C].

Chart. Daily EUR/USD

H4. In the near term the correctional wave (4) will be over.Tthen the growth will continue within the impulse (5) as it’s shown at the picture. When the wave [C] of Y is complete, we’ll expect the market would to reverse.

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