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13.07.2021 01:15 PM
Wave analysis for EUR/USD on July 13, 2021

EUR/USD, H1 time frame:

This image is no longer relevant

The internal structure of the downward wave (Y) is observed in the last part of the hourly time frame. This wave takes the form of a simple zigzag A-B-C. Now, the final impulse wave C is being formed, which is marked in green sub-waves [1]-[2]-[3]-[4]-[5] (they are in circles on the chart). To date, the first four sub-waves have been fully done.

Meanwhile, the last fifth wave, that is, sub-waves [5], is expected to form in the near future. It is assumed that it will be a simple five-wave impulse (1)-(2)-(3)-(4)-(5). The internal structure of this impulse is shown schematically in the chart. Most likely, the price will decline in sub-waves (3)-(4)-(5) to the level of 1.1688, namely under the low marked by the current wave [Y], which is not visible on the chart.

At the specified price level, the value of the impulse wave C will be 100% equal to the value of wave A. There is a high probability of reaching this level, so this is a good trading opportunity to sell.

Roman Onegin,
Analytical expert of InstaForex
© 2007-2025
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