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Currency Analyst since 2010

EUR/USD: wave analysis (Nov. 10-16)

By Roman Petuchov

Weekly. The last wave of the converging horizontal triangle B that is a simple descending zigzag is now being built. Let's see the markup in the details. 

 

Daily. We see that the descending impulse (C) is now being formed. Let's review this impulse. 

 

H4. In the framework of the wave 5 the price has formed waves [i], [ii] and [iii]. This week the market will be buiding a horizontal correction [iv]. Afterwards the decline will continue in a new bearish impulse [v].

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