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 wave [2] which is shown on the previous picture is taking the form of the Zigzag with the wave (b) in the form of the widening triangle. This triangle may be complete, so in the near term we’ll see a decline in the impulse wave (c).

Chart. Daily EUR/USD

H4. The decline in the wave (c) has already started. We are witnessing the first downside impulse waves. The approximate trajectory is shown at the picture.

Chart. H4 EUR/USD

Roman Petuchov for FBS

Scroll to top