Currency Analyst since 2010

EUR/USD: Elliot wave analysis

Monthly. EUR/USD might have finished forming the wave B of the rising Zigzag А-В-С. Wave B represents a Triple Three [w]-[x]-[y]-[x]-[z].  At the moment the pair keeps forming wave [2] of C. Let’s examine the wave structure in detail.


Chart. Monthly EUR/USD 

Daily. The pair might have finished forming corrective wave (b), so now we are witnessing the impulse downward move in the wave (с).

Chart. Daily EUR/USD 

H4. After some decline we’ll likely see a corrective wave IV – the size of this wave might resemble the size of wave II. Then the decline in the wave V will resume. The approximate trajectory of the move is shown at the picture.

Chart. H4 EUR/USD 

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