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).