Trader, analyst and instructor with a 6-year experience

EUR/USD: weekly wave analysis

By Roman Petuchov

Weekly. The market keeps on forming a converging horizontal triangle B. 

Daily. The market is developping a descending zigzag [E], which consists of 2 bearish impulses (А) and (С) and a corrective wave (В). Wave (С) is now coming to an end. 

H4. You may see the wave 5 of (C) in details. On the new week the price will likely decline in the wave [v] - see the chart. 

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