Currency Analyst since 2010

EUR/USD: Elliot wave analysis

Monthly. The pair may have finished forming the wave B of the rising Zigzag А-В-С. Wave B is in the form of the Triple Three [w]-[x]-[y]-[x]-[z]. EUR/USD keeps forming wave C. Let’s analyze the wave’s structure in detail.

Сhart. Monthly EUR/USD

Daily. The rising impulse (I) is close to an end.

Сhart. Daily EUR/USD 

H4. The pair still hasn’t made a pullback down that would be similar in size to the wave II, so the wave IV probably isn’t formed yet. In the near term the market will continue forming this wave. After that, we’ll see a final impulse V and the pair will likely renew the previous high.

Сhart. H4 EUR/USD

By Roman Petuchov for FBS

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