EUR/USD: weekly wave analysis
By Roman Petuchov
Weekly. The formationof a double descending Zigzag [E],whichis the final partof a convergenthorizontal triangle.
Daily. At the moment the pair’s at an end of the first Zigzag (w). Consider its layout on H4.
H4. In the near future we’ll see the end of construction of the correctional wave [iv], which is taking form of a flat area, then a decrease within the downward impulse of [v] of C will continue, as shown at the picture. When the wave C is complete, the pair will start building upward correction.