EURUSD: 1.1277 Could Complete Final Zigzag Leg

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The current EURUSD structure hints to a bullish intervening wave x of a cycle degree consisting of primary sub-waves Ⓐ-Ⓑ and Ⓒ.

Sub-waves Ⓐ and Ⓑ are fully completed, whereas wave Ⓒ is under development.

The latter’s formation suggests a standard 5-wave impulse formation which is halfway through completion.

A closer look on the 1H chart shows the continuation of a potential bullish wave (3) since the completion of intermediate waves (1) and (2) has already taken place.

The pair worths another visit in the short and medium-term as third waves are usually the most powerful in an impulse move, suggesting a rapid upside could be seen.

The upside could end near 1.1277, a level respecting the tenancy of zigzag waves Ⓐ and Ⓒ being equal.


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