Currency Analyst since 2010

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

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