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:
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.
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
By Selcuk Uluagac, Florida International University You probably know better than to click on links…
By Denisa Mindruta, HEC Paris Business School “This isn’t mine; this is one for the…
By JustMarkets At the end of Tuesday, the Dow Jones Index (US30) decreased by 1.49%, while the…
By ForexTime Bitcoin ↓ over 15% in April Crypto hit by “higher for longer” stance…
Source: Clive Maund (4/29/24) Technical Analyst Clive Maund shares an update on Revolve Renewable Power…
Source: Michael Ballanger (4/29/24) Michael Ballanger of GGM Advisory Inc. takes a look at the…
This website uses cookies.