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Currency Analyst since 2010

EUR/USD: weekly wave analysis

By Roman Petuchov

Weekly. The pair keeps forming a convergent horizontal triangle. We see the development of the descending wave [E].

Daily. Wave [E] is taking form of a Double Zigzag (w) - (x) - (y). Now EUR/USD is at the end of the first Zigzag (w).

H4. Layout of the waves on H4 is shown at the picture. The market declines in the impulse (5) of [v] of C. This week we’ll see the price decline, approximately as indicated at the picture. The pair will built waves 3, 4 and 5 of (5).

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