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EUR/USD: Elliott waves (May 19)

  1. By Roman Petuchov

    Weekly. EUR/USD completed the correctional wave rising [D], which is a part of the horizontal triangle.

    Chart. Weekly EUR/USD
    Daily. Wave (y) of [D] took the form of a Double Zigzag. The wave y of (y) is a simple Zigzag, which is fully completed. That’s why we see a decline within the new wave.

    Chart. Daily EUR/USD
    H4. The first downward impulse [1] is fully formed. In the near future we expect corrective gains within wave [2]. It’s very likely that this wave will take the form of a Zigzag, but so far we can only make assumptions.

    Chart. H4 EUR/USD

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