EUR/USD: weekly wave analysis
Weekly. The pair’s ending the global convergent horizontal triangle. In the coming months it will continue constructing the final of the correctional wave [E] of B.
Daily. Wave [E] is taking form of a double Zigzag (w) - (x) - (y). Moreover, the downward momentum C of [v] of (w) is a strong downward trend. In the coming days, the formation of this impulse will continue.
H4. Wave [v] of C is an elongated wave impulse. At present, the pair’s forming the most powerful part of this impulse – 3 of (3) of [v]. At the beginning of this week the pair will continue falling down rapidly, then the pace of decline will decrease as the pair will be constructing of correctional waves 4 and (4). Approximate trajectory of the upcoming movement is shown at the picture.