20.01.2022 06:34 PMEURUSD, H4:
According to the internal structure, it can be assumed that the EURUSD currency pair forms a global triple zigzag W-X-Y-XX-Z, in which the ascending wave of the bundle XX is built.
On the last section of the chart, we see the structure of wave XX, which suggests a double zigzag [W]-[X]-[Y]. Most likely, the middle part of this double zigzag, that is, the sub-wave [X], has taken the form of an inclined triangle (A)-(B)-(C)-(D)-(E). Now the market is in wave [Y], which can take the form of a simple zigzag (A)-(B)-(C).
Since the first two parts of the potential zigzag look complete, we can expect the price to rise and develop the final wave (C) in the near future, which may take the form of an impulse or a final diagonal.
Prices may rise to the level of 1.1600. At this level, the value of wave XX will be 38.2% of the current wave Y. In the current situation, we can consider opening deals for purchases.
Trading recommendation:
Buy 1.1346
Take profit 1.1600.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
