See also
26.01.2022 05:30 PMToday we wait for the Fed's decision on the interest rate. Plus, the crude oil inventories, which will be released at 15:30 UTC. All these important events can finally strengthen the bulls to complete the formation of wave XX.
EURUSD, H4:
According to the Elliott theory, we see a global corrective trend that is moving in a downward direction. Perhaps this trend is taking the form of a triple zigzag W-X-Y-XX-Z.
On the 4-hour timeframe, we see that the decline in the current wave Y was completed, followed by the rise of the market in wave XX.
The internal structure of wave XX hints at a double zigzag [W]-[X]-[Y], where the link wave [X] is an inclined triangle. Now a bullish actionary wave [Y] is under development, which can be a standard zigzag (A)-(B)-(C).
The final impulse wave (C) is needed to complete the above zigzag. (There is a possibility that wave (C) will take the form of a finite diagonal).
The cost of quotes may rise to the level of 1.1600. At this level, the size of wave XX will be 38.2% on Fibonacci lines from wave Y.
Trading recommendation:
Buy 1.1277, 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.
