By Orbex
The current structure of the EURUSD pair assumes the construction of a cycle double zigzag that consists of sub-waves w-x-y.
On the 1H timeframe, we can notice the second half of the bearish cycle degree. This takes a complex formation of the primary double Ⓦ-Ⓧ-Ⓨ zigzag.
At the time of writing, the final actionary wave Ⓨ is under development. This also looks like a double zigzag (W)-(X)-(Y) of the intermediate degree.
In the near future we will see a decline in the market in a minute double ⓦ-ⓧ-ⓨ zigzag. This can complete the minor wave Y, and with it the entire intervening wave x near 1.120. At that level, minor wave Y will be at 123.6% of actionary wave W.
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
An alternative scenario suggests that the large intervening wave x is already fully developed.
The last wave Ⓨ looks like a harmonious double (W)-(X)-(Y) zigzag of the intermediate degree, marked with blue sub-waves.
Thus, in the near future, the price is likely to increase in the cycle wave y above 1.169. This was marked by the minor intervening wave X.
Article by Orbex
Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com
- Gold Falls for the Third Consecutive Week: Is There Still Upside Potential? Jun 22, 2026
- Bank Indonesia raised its interest rate. Norges Bank and the SNB left rates unchanged Jun 19, 2026
- EUR/USD Loses Ground as Market Sentiment Favours the US Dollar Jun 19, 2026
- GBPUSD Awaits Bank of England Meeting Near April Lows Jun 18, 2026
- Markets disliked the results of the FOMC meeting. HKMA followed the Fed and kept its rate unchanged. Jun 18, 2026
- Gold Surges 2% Since Week Opening Amid Geopolitical Shifts and Fed Expectations Jun 17, 2026
- Your Bourse and FXPRIMUS Bring 24/7 Synthetic Indices to the Global Broker Market Jun 16, 2026
- Institutional investors continue to reduce their presence in metals Jun 16, 2026
- USDJPY Driven by Emotions: Bank of Japan Raises Rate to Highest Level Since 1995 Jun 16, 2026
- The United States and Iran have signed a peace agreement – oil has fallen to 80 dollars per barrel. Jun 15, 2026
