EUR/USD: wave analysis
Weekly. The pair continues building global convergent horizontal triangle. We are seeing the beginning of the decline in the descending wave [E] after the pair has completed the correctional wave [D].
Daily. The pair has fully formed impulse 1 and correction to it – 2. This week we expect decline within the bearish trend.
H4. The optimal layout of the wave 2 is shown at the picture. This wave looks totally complete. Given its shallow pullback relatively to the wave 1, we can conclude that the bears arepullingthe price down. This week, we can see quite a strong decline in EUR.