Currency Analyst since 2010

EUR/USD: weekly wave analysis

Weekly. The pair keeps forming the descending double Zigzag [E],whichis the final partof a convergent horizontal triangle B.

Daily. The basic version of the layout is shown at the picture. Presumably the formation of the first descending Zigzag (w) has been completed. In the coming weeks we expect a correctional wave link (x). An alternative scenario is the continuation of the decline. 

H4. There are 2 possible scenarios for this week. According to the basic scenario, we’ll see an increase in price or horizontal movement with an upward bias, and according to the alternative one, the market will move to the previous minimum and renew it. Let's see how the things will develop.

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