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EUR/USD: wave v of (c) is coming soon

EUR/USD: wave v of (c) is coming soon

Wave 4 has been developing since the end of June, so it’s likely that a “Double Three” pattern is taking place. The main target is 4/8 Murrey Math Level (P=200). If a pullback from this resistance happens afterwards, there’ll be an opportunity to see a decline in wave [i].

EUR/USD: wave v of (c) is coming soon

There’s a possible upward impulse in wave (c) of [y]. Currently, we’ve got a local consolidation in wave iv, which is likely going to end shortly. Therefore, bulls will probably try to reach 8/8 Murrey Math Level during developing of wave v.

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