empty
 
 
26.11.2021 03:00 PM
Wave analysis for EUR/USD on November 26, 2021

EUR/USD, H4 timeframe:

This image is no longer relevant

The EUR/USD pair is supposed to build a global triple zigzag W-X-Y-XX-Z. Currently, the bearish acting wave Y is developing. This wave takes a simple zigzag [A]-[B]-[C] form.

Here, we have an impulse wave [A] and bullish correction [B]. The bearish wave [C] is in the development stage. Its initial part hints at an impulse. A five-wave impulse wave (1) and a bullish correction (2) in the form of a zigzag A-B-C were completed.

Now, a decrease in the price in impulse 3 can be observed. If one looks closer, the formation of a descending wave 3 has recently ended in its composition and an adjustment is now taking place in wave 4. It is possible that the price will rise to the level of 1.1290, and then decline again.

An approximate scheme of possible future movement is shown on the graph.

Trading recommendations:

It is recommended to buy from the current level and take profit at the level of 1.1290.

Roman Onegin,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback