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EUR/USD: "Wedge" like the first bearish step into the fifth wave

EUR/USD: "Wedge" like the first bearish step into the fifth wave

There’s a possible “Wedge” in wave (1). Previously, wave 4 has been formed like a “Double Three”, so the market is free to deliver wave 5 of (1) in the short term. Therefore, bears are likely going to break the wave’s 3 low soon.

EUR/USD: "Wedge" like the first bearish step into the fifth wave

As we can see on the one-hour chart, we’ve got an ended “Wedge” in wave [i], so there’s an upward correction in progress. Considering an impulse in wave (a), there’s an opportunity to have the next impulse in wave (c) of [ii] during the day.

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