EUR/USD: Elliot wave analysis
Monthly. The pair may have finished forming the wave B of the rising Zigzag А-В-С. Wave B is in the form of the Triple Three [w]-[x]-[y]-[x]-[z]. EUR/USD currently keeps forming wave C. Let’s analyze the wave’s structure in detail.
Сhart. Monthly EUR/USD
Daily. As expected, the pair has completed impulse in the wave (I) and there was a descending wave (II).
Сhart. Daily EUR/USD
H4. The wave (II) may be taking the shape of the Zigzag. The pair will soon finish the wave a of this Zigzag. Then we’ll see corrective growth in the wave b and then the decline will resume.
Сhart. H4 EUR/USD
By Roman Petuchov for FBS