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. Euro has almost finished forming corrective wave II.
Chart. Daily EUR/USD
H4. The wave II took form of the Zigzag. In the near term we expect rising wave (5) to end. After that we may see a new downtrend in the wave III.
Chart. H4 EUR/USD
Roman Petuchov for FBS