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EUR/USD: Elliot wave analysis

Weekly. As euro reached the previous high at $1.3680, the layout has been changed. The pair may be forming the global horizontal triangle. Now we are seeing the construction of wave [D] of this triangle.

Chart. Weekly EUR/USD

Daily. Wave Y of [D] is close to an end. Let’s examine its structure on a smaller timeframe.

Chart. Daily  EUR/USD

H4. The pair continues building the wave (5) of the final upward impulse. The upward movement in the wake of yet is likely to continue, as shown at the picture.

Chart. H4 EUR/USD

Roman Petuchov for FX BAZOOKA

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