Currency Analyst since 2010

EUR/USD: Elliot wave analysis

Monthly. The pair may have finished forming the wave B of the rising Zigzag А-В-С. Wave B is in the form of the Triple Three [w]-[x]-[y]-[x]-[z].  EUR/USD currently keeps forming wave C. Let’s analyze the wave’s structure in detail.

Chart. Monthly EUR/USD

Daily. The pair has finished forming corrective wave [2] of the upside impulse. According to this assumption, one may expect growth in the wave [3] in the near term.

Chart. Daily EUR/USD 

H4. We are now watching upside impulses of the wave (I) being formed. After the wave III is formed, there will be corrective wave IV. The approximate trajectory is shown on the picture. If this scenario won’t realize and we see no impulsive growth, this would mean that the wave (b) isn’t yet finished.

Chart. H4 EUR/USD

By Roman Petuchov for FBS

Scroll to top