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EURUSD Zigzag Or Flat Correction To End Impulse

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The EURUSD structure hints at an impulse consisting of primary sub-waves ①-②-③-④-⑤.

Wave ⑤ is not yet complete as we are currently in the final part of the specified impulse.

The uptrend is expected to end with the currency pair set to rise near 1.237.

At that level, wave ⑤ will be at 50% of impulse ③.

eurusd

An alternative scenario shows the infancy of a bearish correction in wave ④.

This corrective wave takes the form of a simple zigzag (A)-(B)-(C) of the intermediate degree.

After the completion of impulse wave (A), we could expect a small pullback in the correction (B). A decline could continue in the final impulse wave (C) near 1.135.

At that level, correction ④ will be at 50% of wave ③.

EURUSD can then start to rise in wave ⑤ above the previous maximum.

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