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Wave analysis

13.09.202116:07 Forex Analysis & Reviews: Wave analysis of EUR/USD for September 13, 2021

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/USD, H4:

Exchange Rates 13.09.2021 analysis

The current structure of EUR/USD indicates that a long corrective wave 4 has been built on the market, which looks fully completed. This wave consists of subwaves [A]-[B]-[C] and is a wave plane.

After the full completion of correction 4, we saw a rise in the currency pair in the initial part of a new bullish trend, i.e. in impulse 1. After the completion of wave 1, the market began to correct rather quickly in wave 2. Correction 2 will likely be completed in the area of the target level 1.172. At this level, the value of the entire correction 2 will amount to 76.4% of impulse wave 1. After the full completion of correction 2, the market may rise above the level of 1.1911.

Today, at 13:30 UTC, ECB President Christine Lagarde is scheduled to give a speech. The head of the European Central Bank sets short-term interest rates and has a decisive influence on the euro exchange rate.

Trading recommendations: It is possible to open short positions from the current level with the target at 1.172.

Roman Onegin
Analytical expert of InstaForex
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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