Currency Analyst since 2010

EUR/USD: Elliot wave analysis

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

Chart. Weekly EUR/USD

Daily. Wave (b) took the form of a horizontal Triangle. Now we see the formation of wave e of the Triangle, which takes the form of a double Zigzag.

Chart. Daily EUR/USD

H4. Wave 5 of (C) of [y] is taking shape of the Ending Diagonal Triangle. In the near future we expect the construction of a rising wave 5. After the wave [y] is complete, we expect a new downtrend to start.

Chart. H4 EUR/USD

Roman Petuchov for FX BAZOOKA

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