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Trader, analyst and instructor with a 6-year experience

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.

Chart. Monthly EUR/USD

Daily. The pair keeps forming corrective wave II in line with our forecast.

Chart. Daily EUR/USD

H4. The wave II is probably taking a form of an upward Zigzag. Euro’s currently forming the wave [B] of this Zigzag. In the next few days we’ll likely see the continuation of this wave and the upside move will resume in the wave [C].

Chart. H4 EUR/USD

Roman Petuchov for FBS

 

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