EUR/USD: Elliott waves (Dec. 23)
Weekly. The pair continues building the wave (Y) of [D]. Consider the detailed layout of this wave.
Chart. Weekly EUR/USD
Daily. The wave (y) is probably taking form of a double zigzag. The wave w is fully formed, so now we are seeing the construction of a correctional wave x, which is taking the form of a wave plane. In the near future we expect a decline in a downward impulse wave [C].
Chart. Daily EUR/USD
H4. The chart shows the detailed layout of the last section. The structure of wave [C] isn’t clear yet, because wave has just started its construction.
Chart. H4 EUR/USD
Roman Petuchov for FBS