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Trader, analyst and instructor with a 6-year experience

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

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