Stay 
Trading Conditions
Products
Tools
Major economic news is not scheduled for today. Therefore, we should not expect drastic changes in the market.
EUR/USD, H4 timeframe:
Just like the previous trading week, the formation of the middle part of a large correctional trend can be seen. It is highly possible that a triple zigzag is being built, within which sub-wave Y is formed.
Sub-wave Y can take the form of a simple zigzag [A]-[B]-[C]. The first two parts of this simple zigzag are already done. Since the first half of September 2021, there was a decline in prices in the final downward wave [C].
Wave [C], particularly its initial part, hints at a simple five-wave impulse (1)-(2)-(3)-(4)-(5). The impulse sub-wave 3 is now forming within the framework of this impulse.
As part of impulse 3, completed sub-waves 1-2-3-4 and the first two parts of the last fifth sub-wave can be observed.
It is likely that market participants will see the price decline in sub-waves [3]-[4]-[5], towards the level of 1.1106 in the coming trading days, as shown in the chart.
Currently, one can consider opening sell deals in order to take profit at a specified level.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
We may place cookies for analysis of our visitor data, to improve our website and measure advertising performance. Overall this data is used to provide a better website experience. More information
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 Instant Trading EU Ltd 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 InstaForex anyway.
We are sorry for any inconvenience caused by this message.
