EUR/USD: weekly wave analysis
By Roman Petuchov
Weekly. We are seeing a decline in prices in the last section in the new bearish wave [E]. Presumably it will take form of a Double Zigzag.
Daily. At present EUR/USD is forming the first “branch” of the Double Zigzag – (w). The wave (w) is a simple Zigzag.
H4. We are seeing a decline in the impulse C. The market is falling in a powerful wave [iii] of C, which will be completed in one of the next trading days. When this happens, EUR/USD will start forming correction [iv], which will probably take form a flat. When this flat is complete, the pair will resume decline in the wave [v]. The figure shows the trajectory of the move we expect to see this week.