EUR/USD, H4:
So, we see the continuation of the construction of a deep correction 4 in the form of a triple zigzag. The last part of this triple zigzag - the subwave [Z] - is still in the process of development. Its structure is similar to the double combination (W)-(X)-(Y).
The wave (W), which has taken the form of a double zigzag, and the wave bundle (X) are fully completed. Currently, we see the formation of the final acting wave (Y).
The wave (Y) is most likely to take the form of a simple zigzag A-B-C. It seems that the upward corrective wave B has come to an end. To understand this, let's look at the last section of the graph on H4.
EUR/USD, H1:
After the end of the downward wave A, which took the form of a simple five-wave impulse [1]-[2]-[3]-[4]-[5], the price began to rise within the corrective wave B.
Wave B seems to have come to an end. It consists of three subwaves [W] - [X] - [Y] and is a double zigzag. After the completion of this construction, the market went down. We see a small downside segment, which may indicate the beginning of the formation of the final impulse wave C.
It seems that the formation of wave B has come to an end. It consists of three subwaves [W]-[X]-[Y] and is a double zigzag. After the completion of this construction, the market went down. We see a small downward section, which may indicate the beginning of the formation of the final impulse wave C.
Most likely, the price will reach the price mark of 1.1702. This is the previous minimum. When opening deals from the current level, you can earn about 224 points.