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Trader, analyst and instructor with a 6-year experience

EUR/USD: weekly wave analysis

By Roman Petuchov

Weekly. The market is developping a global converging horizontal triangle B that is now close to an end. Let's review the final wave [E] in the details. 

 

Daily. Wave [E] is a simple descending zigzag with a bearish impulse 5 inside. On the new week the market will continue developping this wave. 

 

H4. The market started a decline in a new bearish impulse [v]. It will likely take a week to build it. Bearish trend will likely extend for a few weeks. Buying is not recommended. 

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