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Trader, analyst and instructor with a 6-year experience

EUR/USD: wave analysis (May 5)

Authored by Roman Petuchov

Weekly. Corrective wave [D] is now being formed. 

Daily. The pair is forming the wave y of (y) that is a simple zigzag. Let's try to predict where the the second wave of [C] ends.

H4. See the detailed markup. Corrective wave (4) is pretty strong in comparizon to the wave (2). Impulse (5) is being formed now, so the pair is expected to rise in the near term.

 

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