Traders Forex Reviews Wave Analysis
08/27/202112: 06 Forex Analytical Reviews: EUR / USD on August 27. The speech of the head of the Fed of the United States Mr. Powell may affect the formation of the market. Sell or buy? We will analyze in Article
relevance to 12:00 2021-08-28 UTC + 2
Good afternoon, we continue to analyze the situation on the EURUSD currency pair.
EURUSD H 1:
In the long term According to EURUSD currency pair, we observed a long time to build a large correctional wave 4, which is part of the global momentum. Wave 4 is the wave plane [A] – [B] – [C] and appears to be fully completed to date.
In the last section of graph , we see that after the end of the bearish impulse wave [C], the market turned and began to move up. Most likely, the formation of a new bull wave began. A pulse may be generated. So far, its first subvolve (1) looks complete, and the bearish zigzag correction (2) is approaching completion.
Assumed, that, due to today’s speech by US Fed Chief Executive Mr. Powell , the market could accelerate the completion of the correction (2), then begin to move upward in wave (3), as shown in the graph, above 1.1806.
Trade recommendations: since , as the development of the bullish wave is expected in the near future (3), the opening of transactions for purchases should be considered. The nearest target is 1.1806, where a small correction 4 was previously completed.
Thank you all for your attention. Don’t Miss an Opportunity earn on EURUSD. I wish you a nice weekend before Monday’s meeting.
* The presented market analysis is informative and is not a guide to the transaction.
Respectfully, Analyst InsaForex Roman Onegin © 2007-2021