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26.07.2021 10:35 AM
Wave analysis for EUR/USD on July 26, 2021

EUR/USD, H4 time frame:

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The formation of a long correctional wave 4 can be observed. This correction takes the form of a descending double zigzag [W]-[X]-[Y].

Now, let's pay attention to the last active wave [Y], since it is not enough for full configuration. Wave [Y] hints at a double zigzag of a smaller wave level consisting of sub-waves (W)-(X)-(Y). The sub-waves (W) and (X) are already fully done. The last active wave (Y), which takes the form of a standard zigzag A-B-C, is currently in the process of development.

On the other hand, the oblique triangle (A)-(B)-(C)-(D)-(E), which is shown in the bearish impulse wave C, hints at the continuation of the price decline. In this case, a downward movement in the sub-wave [5] of c in the direction of the level 1.7000 is expected in the near future. This is the previous low formed by wave [W].

Currently, one can consider opening sell deals in order to take profit at a specified level.

Roman Onegin,
انسٹافاریکس کا تجزیاتی ماہر
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ٹائم فریم منتخب کریں
5
منٹ
15
منٹ
30
منٹ
1
گھنٹہ
4
گھنٹے
1
دن
1
ہفتہ
انسٹافاریکس کے ساتھ کرپٹو کرنسی کی معاملاتی تبدیلیوں سے کمائیں۔
میٹا ٹریڈر 4 ڈاؤن لوڈ کریں اور اپنی پہلی ٹریڈ کھولیں۔
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