Trader, analyst and instructor with a 6-year experience

EUR/USD: Elliot wave analysis

Weekly. The corrective wave (b) is close to an end.

Chart. Weekly EUR/USD

Daily. The wave e of the horizontal triangle is close to an end. This wave is taking form of the double Zigzag, so let’s analyze its structure in detail.

Chart. Daily EUR/USD

H4. The pair has started forming a rising impulse wave (С) in line according to our baseline scenario. The alternative variant is that the pair will keep forming the horizontal wave (В). Both variants are shown at the picture.

Chart. H4 EUR/USD

Roman Petuchov for FBS

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