European Union Foreign Exchange

EUR/USD: Developing Wave A of (V)

There’s a developing ending diagonal in wave [v] of C. Inside this pattern, wave (iv) may have been formed.

eur usd wave 07-2017

So, there’s an opportunity to have wave (v) of [v] in the short term. In this case, the high of wave (iii) is likely going to be broken soon.

eur usd wave 07-16-2017

As we can see on the one-hour chart, we’ve got a double zigzag pattern in wave (iv). Also, there’s a developing wave a, which is likely going to be ended on 7/8 MM Level, which could be a departure point for wave b of (v).

By IGOR TOLSTYKH, FBS

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