Currency Analyst since 2010

EUR/USD: weekly wave analysis

Weekly. The pair keeps forming the final part of the convergent horizontal triangle – the wave [E].

Daily. According to the current layout, the wave [E] is taking the form of a double Zigzag. At the moment we are at the end of the first Zigzag. Consider its layout. 

H4. This week we expect the pair to build a small corrective wave (4) and decline in the impulse (5). When these waves are built, the market may turn around, starting to form an upward correction (x).

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