EUR/USD: Wave Forecasts Downward Slide

2022.05.08 12:08

EUR/USD is rolling into a sideways range which can end up as a triangle pattern, and in this case, this triangle will represent wave (4) of a bearish impulsive wave in the higher degree.
EUR/USD Forecast

If that unfolds (a triangle with 5 sub waves) then we see a break from the downside. We’ll expect a drop that should take the price to at least reach the triangle’s target and then a recovery through a corrective wave, breaking through the 1.08378 level that will invalidate the count.

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