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EUR/USD: Elliot wave analysis

Weekly. EUR/USD continues building a global horizontal triangle. Now we are seeing the formation of a wave Y of [D] of the triangle.

Chart. Weekly EUR/USD

Daily. The wave Y is taking form of a zigzag. Wave [C] of this zigzag is currently being formed.

Chart. Daily EUR/USD

H4. The layout of the wave [C] is shown at the chart. Now we are seeing the construction of a wave (5). After the formation of a local correction the upward movement in this wave will likely resume.

Chart. H4 EUR/USD

Roman Petuchov for FX BAZOOKA

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