EUR / USD: weekly wave analysis


Roman Petukhov

Weekly. The building of the final part of a convergent horizontal triangle B continues. Currently zigzag [E], the layout is discussed below. 

Daily. Zigzag [E] comprises two pulses (A) and (C) and a small corrective wave (B). At the moment the end of the zigzag - wave 5 of (C) is formed. To determine the possible price movement to a new week, one should consider the details of the markings on H4.

H4. The market is fully formed the first four waves of the impulse 5. After correction [iv] of 5, the pair falling will proceed in a new descending wave [v] of 5. On the new week it is expected to continue to reduce the pulse as it is indicated in the figure.

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