EUR/USD: wave 2 on the way

EUR/USD: wave 2 on the way

2019-11-11 • Updated

Wave 2 has been continued, so there’s a new local high. Previously, we’ve got a wedge pattern in wave 1. The main bullish target is 5/8 MM Level, which could be a departure point for wave 3.

As we can see on the four-hours chart, there’s a possible diagonal triangle in wave [c] of 2. Wave (iii) has been ended near 7/8 MM Level. Therefore, bears are likely going to deliver wave (iv) in the short term.

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