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10.09.202113:33 Forex Analysis & Reviews: Wave analysis of EUR/USD for September 10, 2021

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EUR/USD, H1:

We see that the bulls continue to push the price up. Most likely, the market has formed the first two small subwaves (1) and (2), which marked the beginning of a five-wave impulse.

Wave (1) has an impulsive structure and consists of subwaves 1-2-3-4-5. Downward wave (2) is a correction that took the form of a double combination W-X-Y. After the completion of the decline in correction (2), we saw a price reversal and the beginning of its growth, which may indicate the beginning of a subwave (3).

Usually, in impulses, the third subwaves are the most powerful, therefore, in the coming trading days, an active growth of the currency pair is expected above the maximum of 1.1909.

In the current situation, it is recommended to consider opening buy deals in order to take profit at the maximum of 1.1909.

The next review will be published on Monday.

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