EUR / USD H4 chart:


Initially, the EUR / USD market was bullish, but as soon as wave 3 ended, the bears pushed the euro down, thereby forming a corrective wave. This bearish wave 4 has a simple zigzag formation: [A] – [B] – [C], and its final impulse, wave C, is nearing its end.

EUR / USD H1 chart:


Its structure can be seen more clearly in the H1 time frame, as there it has taken a double zigzag formation: W-X-Y.

And after the euro completes this correction, wave 5 will most certainly begin, which should also be bearish. Here, the quote will most probably head to 1.1635, which is equal to 61.8% Fibonacci of wave 3.

Taking this into account, it is obvious that we should short the euro in order to get huge profit from the market.

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.