EUR/USD: weekly wave analysis
Weekly. After finishing the wave[D],which is the part of a convergenthorizontal triangle, EUR/USD started decreasingin the new wave[E].
Daily. The pair’s forming the first downward Zigzag ABC, which is the beginning of the wave [E]. This week we expect the decline to continue within the impulse S. Consider the structure of the impulse on the H4.
H4. At the end of the previous week the pair completed construction of a wave (iii). In the near future EUR/USD will form a small lateral wave (iv), then we’ll see a decline within the downward impulse (v). The approximate trajectory of the upcoming motion is shown at the picture.