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  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